American startup Road Runner Media that specializes in road safety and advertising announced late in February 2021 the raising of USD 62.5 million through debt financing led by Baseline Growth Capital.
Investors: Founded in 2018 by Joel Gheen and Raghav Mathur, Baseline Growth Capital is a relatively new company in the investment banking and finance industry. It has its headquarters in Colorado, United States and currently has a capital revenue of around US $ 4 million. It seeks to provide, among other things, carefully oriented investment programs to its investors.
“We are pleased to be backed by a sophisticated and like-minded investor, which shares our philosophy of seeking attractive risk-adjusted returns with new strategies in spaces that are not already overcrowded with institutional capital.”– Founders of Baseline Growth Capital.
About Road Runner Media :
Road Runner Media was founded by Randall Lanham in 2017, with the primary intention of commercialising outdoor advertising and at the same time seeking to increase road safety.
Its Digital Brake Light(DBL), a flat-monitor screen, is mounted on the rear of vehicles, semi-trailers and transit buses. The DBL along with the VOI ( Vehicle Operational Indicator) technology displays real-time driver actions. For instance, it has a separate hazard/road safety indicator, which alerts other drivers of any road hazard coming up ahead. The same technology is used for the purpose of outdoor advertising. Also, the technology is posited to be backed by law enforcement agencies and therefore it would also be used for displaying Public Service Announcements (PSA).
The ads, according to the company, can be targeted to the intended audience using GPS and the timing of the day. The company is also planning to collect data regarding who has watched the ads.
Road Runner Media claims to already have installed 150 live screens, with the new financing it seeks to expand its reach by establishing screens in Philadelphia and Washington D.C as well.
What the Founder has to say:
“We have the ability to retrofit any vehicle and make it safer on the highways. I really, truly believe that we will save lives if we already haven’t.”– Randall Lanham, founder of Road Runner Media.
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