The outdoor advertising industry in the US leverages large-format displays like billboards, transit ads, and digital screens to capture consumer attention. Companies within this sector include media owners, technology platform providers, and creative agencies. They offer advertising solutions that reach audiences in high-traffic areas, utilizing data-driven insights for effective campaigns. With a shift towards digital and interactive formats, the industry is rapidly evolving, incorporating technology to track engagement and performance. Sustainability is becoming increasingly important, prompting firms to adopt eco-friendly practices. As urban landscapes become more visually competitive, innovative strategies will be key in capturing consumer interest.


This listing features a range of 19 notable investors in the outdoor advertising sector, including venture capital firms, corporate venture divisions, and angel investor groups. Geographically, these firms are concentrated in key business hubs such as Silicon Valley and New York City. Established between 1911 and 2018, these investors vary in their funding strategies, sizes, and degrees of involvement in outdoor advertising, with a total of 691 deal counts in 2024 alone. Noteworthy names include Accel and Morgan Stanley, highlighting the intersection of finance and advertising innovation.


Top 19 Outdoor Advertising Investors in the US


1. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. Among their notable transactions, they invested in Firefly, a company that integrates technology with outdoor advertising, indicating their engagement in this sector. Additionally, they have invested in other companies like SilverPush, which focuses on marketing technology, further showcasing their interest in advertising-related ventures. With a total of 98 investments in 2024, 500 Global continues to support innovative startups across various industries, including outdoor advertising.


2. Aperiam

  • Website: aperiam.vc
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: mathcapital

Aperiam Ventures is a venture capital firm based in New York, founded in 2018, that specializes in advertising technology. They provide investment and strategic guidance to startups in the ad tech sector, helping them navigate challenges and achieve growth. Aperiam has been involved in several notable transactions, including a $10.3 million Series A investment in Octopus Interactive Inc., a company that focuses on digital out-of-home advertising. They also participated in funding rounds for tvScientific, which operates in the advertising technology space. Their focus on innovation and collaboration positions them as key partners for companies looking to succeed in the dynamic advertising industry, including outdoor advertising.


3. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. With a portfolio of over 1,000 companies, many achieving unicorn status, FJ Labs provides capital and strategic guidance to startups across various industries, including e-commerce and logistics. Notably, they have participated in significant transactions such as Virool, a video distribution platform that aims to enhance its presence in the global advertising market, indicating their involvement in the advertising sector. Additionally, their investment in Topsort, an auction-powered API company, further demonstrates their engagement with technology that could intersect with advertising strategies. These transactions highlight FJ Labs' relevance in the advertising landscape, including outdoor advertising.


4. Accel

  • Website: accel.com
  • Type: Venture Capital
  • Headquarters: Palo Alto, California, United States (USA)
  • Founded year: 1983
  • Headcount: 51-200
  • Number of deals in 2024: 101
  • LinkedIn: accel-vc

Accel is a venture capital firm founded in 1983, based in Palo Alto, California, specializing in investing in startups and early-stage companies primarily in the technology sector. The firm has a global presence with offices in San Francisco, London, India, and China. Notable transactions include investments in SureWaves MediaTech, a cross-media advertising platform, which received funding in both Series A and Series B rounds, indicating Accel's interest in the advertising technology space. Additionally, Accel participated in funding rounds for AdRoll, a company that focuses on online advertising, and Openads, which also operates in the advertising domain. These transactions suggest that while Accel's primary focus is on technology, they have engaged with companies that are relevant to the advertising industry, including outdoor advertising.


5. Bessemer Venture Partners

  • Website: bvp.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1911
  • Headcount: 11-50
  • Number of deals in 2024: 78
  • LinkedIn: bessemer-venture-partners

Bessemer Venture Partners is a venture capital firm founded in 1911, based in San Francisco, California. The firm specializes in providing funding and investment management services to startups and growth-stage companies across various sectors, including technology and healthcare. Notably, Bessemer has participated in significant transactions in the advertising space, such as their investments in Yodle, a company that raised multiple rounds of funding (Series B, C, and D) totaling over $38 million. Yodle focuses on local advertising solutions, which encompass outdoor advertising strategies. Additionally, Bessemer's investment in AccessSportsMedia.com, which operates in the media and advertising sector, further highlights their engagement in related fields. This diverse portfolio indicates Bessemer's capability and interest in supporting companies that may intersect with outdoor advertising.


6. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses, agribusiness, solar projects, and affordable housing, with a strong focus on supporting entrepreneurs in underserved communities. Their investment strategy includes flexible capital solutions aimed at fostering growth and sustainability. Notably, Advantage Capital has been involved in several transactions relevant to the outdoor advertising industry, including a $3 million Series A investment in DOmedia, a platform that connects advertisers with outdoor advertising opportunities. Additionally, they have provided debt financing to companies like Beautiful Displays and Specialty Enhanced Imaging, which, while not exclusively outdoor advertising firms, operate in related sectors that may intersect with advertising needs. Their acquisition of a 50% interest in Astley Gilbert Limited further highlights their engagement in the digital printing and imaging solutions market, which can be relevant to outdoor advertising applications.


7. New Enterprise Associates (NEA)

  • Website: nea.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1977
  • Headcount: 51-200
  • Number of deals in 2024: 57
  • LinkedIn: new-enterprise-associates

New Enterprise Associates (NEA) is a prominent venture capital firm based in Menlo Park, California, founded in 1977. NEA specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. The firm partners with entrepreneurs to provide funding and strategic guidance, helping them navigate the challenges of building successful businesses. NEA operates through a collaborative approach, emphasizing long-term relationships with founders. Notably, NEA has been involved in several significant transactions in the advertising sector, including a $57 million investment in Advertising.com in 2000, and multiple rounds of funding for Mediaocean, a company that provides advertising management solutions. Additionally, NEA participated in funding rounds for GumGum, an advertising platform that focuses on image recognition and computer vision, which highlights their engagement in innovative advertising technologies. These transactions demonstrate NEA's active role in the advertising industry, making them a relevant player in the outdoor advertising space.


8. New York Angels

  • Website: newyorkangels.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2004
  • Headcount: 51-200
  • LinkedIn: new-york-angels

New York Angels is an angel investment group based in New York, founded in 2004. They provide funding and mentorship to early-stage companies across various industries, including technology and healthcare. Notably, they have invested in companies like Adapt Media, which operates in the advertising sector, and AdStash, a platform that connects advertisers with available ad space. These transactions highlight their engagement with the advertising industry, particularly in outdoor advertising contexts. Their members, who are experienced entrepreneurs and investors, offer strategic guidance to help startups navigate growth and funding challenges, further enhancing their potential relevance in the outdoor advertising market.


9. Gaingels

  • Website: gaingels.com
  • Type: Venture Capital
  • Headquarters: Burlington, Vermont, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 60
  • LinkedIn: gaingels

Gaingels is a venture capital firm founded in 2015, based in Burlington, Vermont, dedicated to investing in companies with diverse leadership. The firm provides capital and support to startups, particularly those led by underrepresented groups, to foster diversity and inclusion in the innovation economy. Gaingels has been involved in several transactions relevant to the advertising sector, including investments in Adwisely, an ad automation platform for e-commerce brands, and Anzu.io, a programmatic ad platform for in-game ads. These investments highlight Gaingels' engagement in the advertising technology landscape, which intersects with outdoor advertising strategies. The firm also offers scholarship programs and advisory services to enhance board diversity, further supporting its mission of promoting inclusivity in the startup ecosystem.


10. Founder Collective

  • Website: foundercollective.com
  • Type: Venture Capital
  • Headquarters: Cambridge, Massachusetts, United States (USA)
  • Founded year: 2009
  • Headcount: 1-10
  • Number of deals in 2024: 12
  • LinkedIn: founder-collective

Founder Collective is a venture capital firm based in Cambridge, Massachusetts, founded in 2009. The firm specializes in seed-stage investments in technology startups, aiming to provide aligned support to founders by leveraging their own entrepreneurial experiences. They focus on efficient entrepreneurship and fostering a community among their portfolio companies. Notably, Founder Collective has invested in companies like ADstruc and PJX Media, both of which are involved in the outdoor advertising sector. ADstruc raised $1,100,000 in a Series A round in 2010, while PJX Media raised a similar amount in a seed round on the same day. These transactions highlight Founder Collective's involvement in the outdoor advertising industry, making them a relevant player in this space.


11. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services, including wealth management, investment banking, and capital markets, catering to individuals, families, corporations, and governments. With a global presence and a workforce of over 10,000 employees, Morgan Stanley leverages its expertise to provide tailored financial solutions. Notably, Morgan Stanley has made significant investments in the advertising sector, particularly through its involvement with GumGum, a Santa Monica-based advertising platform. Morgan Stanley led multiple funding rounds for GumGum, including a $26 million Series C round in 2015, a $22 million Series D round in 2020, and a $75 million Series E round in 2021. These investments highlight Morgan Stanley's commitment to supporting innovative advertising technologies, which can encompass outdoor advertising strategies.


12. Launch

  • Website: launch.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 46
  • LinkedIn: launch-calacanis

LAUNCH is a startup accelerator and investment firm based in San Francisco, California, founded in 2010. They support early-stage startups through funding and educational programs, investing millions annually in promising ventures. Among their notable transactions, they have invested in Wrapify, which raised multiple rounds of funding (including a $2.1 million convertible note in 2016 and earlier seed rounds) and focuses on outdoor advertising through vehicle wraps. Additionally, they invested in AdStage, which raised funds to enhance advertising technology, contributing to the advertising landscape. These investments highlight LAUNCH's active role in the outdoor advertising sector, alongside their broader investment strategy.


13. Norwest

  • Website: nvp.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1961
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: norwest-venture-partners

Norwest Venture Partners is a venture capital and growth equity investment firm founded in 1961, based in Menlo Park, California. The firm provides funding and strategic support to early to late-stage companies across various sectors, including technology and healthcare. Notably, Norwest has invested in tvScientific, which raised significant funding in 2022 and 2024, focusing on data-driven advertising solutions that can enhance outdoor advertising strategies. Additionally, Norwest has invested in NinthDecimal, a company specializing in location-based marketing, which is essential for effective outdoor advertising campaigns. Through these investments, Norwest demonstrates its capability and interest in the advertising technology landscape, making it a relevant player in the outdoor advertising industry.


14. Alchemist Accelerator


Alchemist Accelerator is a startup accelerator based in San Francisco, California, founded in 2012. It specializes in supporting early-stage ventures that monetize from enterprises by providing a structured program that includes mentorship, investment, and networking opportunities. The accelerator operates globally, connecting startups with a wide network of investors and industry experts. Notably, Alchemist Accelerator has invested in companies like Adenda Media, which raised funds in the seed round and is involved in the advertising sector, and Placements.io, which also raised significant seed funding and operates in the advertising technology space. These transactions highlight Alchemist Accelerator's engagement with the advertising industry, including potential outdoor advertising applications.


15. Shamrock Capital


Shamrock Capital is a private equity firm based in Los Angeles, California, founded in 1978. The firm specializes in investment management across various sectors, including media, entertainment, and education. They focus on providing capital and strategic support to businesses at critical growth stages, emphasizing long-term value creation and partnership. Notably, Shamrock Capital has made significant investments in the outdoor advertising space, including the acquisition of Screenvision Media in 2010, which operates in cinema advertising and has a presence in outdoor venues. Additionally, their investment in Branded Cities Network in 2017 highlights their commitment to the outdoor advertising industry. Other relevant transactions include investments in Premier Retail Networks and Ad Results Media, both of which engage in advertising services that can encompass outdoor advertising. These transactions demonstrate Shamrock Capital's active role in the outdoor advertising sector, alongside their broader investment strategy.


16. Accomplice VC

  • Website: accomplice.co
  • Type: Venture Capital
  • Headquarters: Cambridge, Massachusetts, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 13
  • LinkedIn: accomplice-vc

Accomplice VC is a venture capital firm based in Cambridge, Massachusetts, founded in 2015. The firm specializes in providing investment to startups and emerging companies, focusing on high-conviction, concentrated investments across various industries, including technology and finance. Notably, Accomplice VC has been involved in significant transactions within the advertising sector, particularly with Integral Ad Science, which raised substantial funding across multiple rounds, including a $40 million debt financing in 2015 and a $7.25 million Series B round in 2010. These investments highlight Accomplice's engagement in the advertising technology space, which encompasses outdoor advertising solutions. Additionally, their investment in Soofa, a company that integrates technology with public spaces, further emphasizes their interest in innovative advertising methods that could include outdoor applications.


17. DCM Ventures

  • Website: dcm.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1996
  • Headcount: 11-50
  • Number of deals in 2024: 13
  • LinkedIn: dcm

DCM Ventures is a venture capital firm founded in 1996, based in Menlo Park, California, with a focus on early-stage investments in technology companies. With over $4 billion in assets under management, DCM partners with entrepreneurs to provide capital and operational guidance, helping them navigate the challenges of building successful startups. The firm operates in Silicon Valley, Beijing, and Tokyo, focusing on sectors such as mobile, consumer internet, and software services. Notably, DCM Ventures has made several significant investments in Lightbox OOH Video Network, a prominent player in the outdoor advertising industry. They invested in multiple funding rounds for Lightbox, including Series B through Series F, with investments totaling over $100 million. This track record highlights DCM's engagement in the outdoor advertising sector, alongside their broader technology investment strategy.


18. RRE Ventures

  • Website: rre.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1994
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: rre-ventures

RRE Ventures is a venture capital firm based in New York, founded in 1994, specializing in early-stage investments across various sectors, including technology, healthcare, and fintech. The firm provides capital and strategic guidance to startups, helping them navigate market challenges and achieve growth. Notably, RRE Ventures has invested in companies like ADstruc, which raised $1,100,000 in a Series A round in 2010, and PJX Media, which also raised $1,100,000 in a Seed Round on the same date. These investments highlight RRE's engagement in the outdoor advertising space. Additionally, RRE has participated in funding rounds for Netsertive, a digital marketing intelligence company, which, while not exclusively focused on outdoor advertising, operates in the broader marketing and advertising ecosystem. This diverse portfolio reflects RRE's commitment to backing innovative businesses, including those in the outdoor advertising sector.


19. Hearst Magazines

  • Website: hearst.com
  • Type: Corporate
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1887
  • Headcount: 1001-5000
  • Number of deals in 2024: 10
  • LinkedIn: hearst-magazines

Hearst Magazines, a division of Hearst Corporation, is a prominent media company based in New York, New York, founded in 1887. It operates across various sectors, including publishing newspapers and magazines, broadcasting television channels, and providing financial information services through its Fitch Group subsidiary. In 2024, Hearst has made 10 investments, showcasing its active role in the market. Notably, Hearst has participated in funding rounds for companies like tvScientific, which raised $20 million in Series A funding with Hearst Ventures as a strategic partner, and Optable, which also secured $20 million in Series A financing with Hearst's involvement. These transactions highlight Hearst's engagement in the advertising ecosystem, which includes outdoor advertising as a potential avenue for growth and innovation.



Outdoor Advertising Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
500 GlobalSan Francisco, California, United States (USA)201-500201098
AperiamNew York, New York, United States (USA)1-1020186
FJ LabsNew York, New York, United States (USA)11-502015169
AccelPalo Alto, California, United States (USA)51-2001983101
Bessemer Venture PartnersSan Francisco, California, United States (USA)11-50191178
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
New Enterprise Associates (NEA)Menlo Park, California, United States (USA)51-200197757
New York AngelsNew York, New York, United States (USA)51-20020040
GaingelsBurlington, Vermont, United States (USA)11-50201560
Founder CollectiveCambridge, Massachusetts, United States (USA)1-10200912
Morgan StanleyNew York, New York, United States (USA)10001+198679
LaunchSan Francisco, California, United States (USA)11-50201046
NorwestMenlo Park, California, United States (USA)51-200196141
Alchemist AcceleratorSan Francisco, California, United States (USA)1-10201220
Shamrock CapitalLos Angeles, California, United States (USA)11-5019788
Accomplice VCCambridge, Massachusetts, United States (USA)11-50201513
DCM VenturesMenlo Park, California, United States (USA)11-50199613
RRE VenturesNew York, New York, United States (USA)11-5019948
Hearst MagazinesNew York, New York, United States (USA)1001-5000188710


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