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Transparency and Independence
To be candid, these are two words you won’t often hear in the context of out of home media (OOH). OOH - advertising on any visual media that is outside of the home - has long been a part of every major brands’ multi-channel advertising strategy. It is one of the oldest and most resilient forms of advertising and yet it has always been a ‘black box’ that leaves brands with almost no way of knowing the ROI.
This industry wide problem underpins our recent investment into Veridooh.
Veridooh’s flagship solution, SmartCreativeTM, independently tracks, measures and verifies the performance of digital OOH campaigns, increasing transparency and buyer confidence in the industry. Using the Veridooh dashboard, clients have full visibility over their campaigns, with access to more than 300 metrics such as location, plays, exposure time, ad length and share of time, which they can use to analyse and optimise their campaigns. Critically, the SmartCreative technology doesn’t require integration with media owners which means it’s able to be used anywhere in the world and, it’s independent.
Mo Moubayed and Jeremy Yang, the founders, have been working together for more than 10 years. They observed the OOH verification problem when they initially began offering brands with the ability to advertise on top of taxis, and quickly realised that the verification of media spend was a bigger problem that the purchasing of media itself. Veridooh was launched in 2019 and has quickly scaled to service over 160 customers, measuring over >$200m in OOH advertising spend. The business is growing at around 4x, despite the significant slowdown in OOH spend during the two years of COVID-19 as people remained at home. The business has 24 employees based in its Sydney headquarters and has immediate plans to grow the team as it looks to grow internationally on the back of this capital raise.
There are a range of factors that influence the implementation of OOH campaigns including human error, scheduling issues, hardware downtime, over-selling and technology faults that result in misdelivery across Veridooh’s customer base.
Globally, OOH media asset ownership is heavily concentrated amongst a handful of companies, creating a material power imbalance. There has traditionally been limited incentive for these media owners to track, measure and report on whether campaigns are delivered as promised. Any verification efforts have been via physical inspections organised by the advertisers or through reports generated by the media owners themselves. The former option provides a small sample base at a moment in time, while the latter allows media owners to essentially ‘mark their own homework’. Within this context, advertisers and advertising agencies alike are increasingly demanding a standardised and independent verification solution.
This is all changing. The perceived advantages associated with an unregulated environment are being outweighed by a loss of confidence and agencies, media owners and brands alike are looking for ways to provide accurate verification of OOH spend. Now, with Veridooh, whenever and wherever customers play content, the embedded SmartCreative delivers measurement back to the Veridooh platform in near real-time. Veridooh’s customers access this information through a dashboard which is used to maximise the ROI on every OOH campaign. They are also able to seek compensation for failed elements of campaigns. Essentially, the tool gives buyers of OOH advertising the same level of transparency and measurement that online advertising has been offering for a number of years.
The industry has embraced Veridooh as media owners come to the realisation that transparency builds trust and ultimately increased customer spend and loyalty. This realisation has driven adoption with 100% coverage of digital out-of-home assets in Australia and agency partners such as OMG Australia, IPG Mediabrands, and GroupM making Veridooh available to their clients. Today, it cites the likes of Google, Amazon, Uber, Telstra, Commbank and Channel Nine amongst its customer base.
In the case of Veridooh, it’s all about transparency and independence. EVP is pleased to have led Veridooh’s first capital raise alongside our friends at Jelix Ventures as well as Leigh Jasper and Rob Philpot, the founders of Aconex. So that next time you’re looking at a piece of digital OOH media, remember that Veridooh is also watching that media and watch this space as we look to transform the way an enormous industry operates.
Transparency and Independence
To be candid, these are two words you won’t often hear in the context of out of home media (OOH). OOH - advertising on any visual media that is outside of the home - has long been a part of every major brands’ multi-channel advertising strategy. It is one of the oldest and most resilient forms of advertising and yet it has always been a ‘black box’ that leaves brands with almost no way of knowing the ROI.
This industry wide problem underpins our recent investment into Veridooh.
Veridooh’s flagship solution, SmartCreativeTM, independently tracks, measures and verifies the performance of digital OOH campaigns, increasing transparency and buyer confidence in the industry. Using the Veridooh dashboard, clients have full visibility over their campaigns, with access to more than 300 metrics such as location, plays, exposure time, ad length and share of time, which they can use to analyse and optimise their campaigns. Critically, the SmartCreative technology doesn’t require integration with media owners which means it’s able to be used anywhere in the world and, it’s independent.
Mo Moubayed and Jeremy Yang, the founders, have been working together for more than 10 years. They observed the OOH verification problem when they initially began offering brands with the ability to advertise on top of taxis, and quickly realised that the verification of media spend was a bigger problem that the purchasing of media itself. Veridooh was launched in 2019 and has quickly scaled to service over 160 customers, measuring over >$200m in OOH advertising spend. The business is growing at around 4x, despite the significant slowdown in OOH spend during the two years of COVID-19 as people remained at home. The business has 24 employees based in its Sydney headquarters and has immediate plans to grow the team as it looks to grow internationally on the back of this capital raise.
There are a range of factors that influence the implementation of OOH campaigns including human error, scheduling issues, hardware downtime, over-selling and technology faults that result in misdelivery across Veridooh’s customer base.
Globally, OOH media asset ownership is heavily concentrated amongst a handful of companies, creating a material power imbalance. There has traditionally been limited incentive for these media owners to track, measure and report on whether campaigns are delivered as promised. Any verification efforts have been via physical inspections organised by the advertisers or through reports generated by the media owners themselves. The former option provides a small sample base at a moment in time, while the latter allows media owners to essentially ‘mark their own homework’. Within this context, advertisers and advertising agencies alike are increasingly demanding a standardised and independent verification solution.
This is all changing. The perceived advantages associated with an unregulated environment are being outweighed by a loss of confidence and agencies, media owners and brands alike are looking for ways to provide accurate verification of OOH spend. Now, with Veridooh, whenever and wherever customers play content, the embedded SmartCreative delivers measurement back to the Veridooh platform in near real-time. Veridooh’s customers access this information through a dashboard which is used to maximise the ROI on every OOH campaign. They are also able to seek compensation for failed elements of campaigns. Essentially, the tool gives buyers of OOH advertising the same level of transparency and measurement that online advertising has been offering for a number of years.
The industry has embraced Veridooh as media owners come to the realisation that transparency builds trust and ultimately increased customer spend and loyalty. This realisation has driven adoption with 100% coverage of digital out-of-home assets in Australia and agency partners such as OMG Australia, IPG Mediabrands, and GroupM making Veridooh available to their clients. Today, it cites the likes of Google, Amazon, Uber, Telstra, Commbank and Channel Nine amongst its customer base.
In the case of Veridooh, it’s all about transparency and independence. EVP is pleased to have led Veridooh’s first capital raise alongside our friends at Jelix Ventures as well as Leigh Jasper and Rob Philpot, the founders of Aconex. So that next time you’re looking at a piece of digital OOH media, remember that Veridooh is also watching that media and watch this space as we look to transform the way an enormous industry operates.