Adomni to expand digital advertising platform, utilized by Uber OOH
SAN FRANCISCO, November 1, 2021 – Insured technology financing pioneer, PIUS announced today the securing of $20 million in funding via private placement bond for Adomni, an online platform that enables marketers to easily and transparently build and launch digital out of home (DOOH) advertising campaigns. The bond was underwritten by PIUS, based on its evaluation of Adomni’s intellectual property, and will provide the company with working capital. The deal also includes an accordion feature, providing Adomni the option to increase the amount to $45 million.
“With the $20 million funding, Adomni can continue to expand our platform,” said Jonathan Gudai, CEO of Adomni. “Working with PIUS, we were able to not only secure a greater amount of capital, but we have done so while retaining equity, allowing us to remain true to our founding mission of delivering advertising innovation in an easy-to-use format.”
PIUS helps high-growth technology companies get flexible, non-dilutive debt by insuring the debt’s value, based on PIUS’ evaluation of the company’s intellectual property, enabling lenders to lend more at lower rates. The cost of capital is typically less than 10% overall, with no warrants, extra fees, or prepayment penalties. Through PIUS’ CLip Notes program, PIUS provides the insurance, brings the capital source via institutional investors, and monitors the transaction, providing a complete solution.
“Emerging technology companies often find themselves in a situation where they must choose between insufficient financing from traditional banks, or expensive and dilutive capital from venture debt providers. Through insurance, PIUS allows companies to secure dilution-free growth capital,” said Joe Agiato, CEO of PIUS. “Adomni is an innovator in the field of digital out of home advertising, and the PIUS team is thrilled to have contributed to Adomni’s growth and its further advancement of the industry.”
Currently, the Adomni platform has a reach of more than 70 billion monthly impressions on more than 500,000 programmatically connected real-world digital screens across the U.S., Canada, Europe and Australia. Adomni is a selling partner to Uber and their Uber OOH advertising network of connected vehicles.
Mt. Vernon Partners served as financial advisors to Adomni on the deal, which was given an A+ credit rating.
PIUS Limited, LLC, offers a proprietary insurance product for growing technology companies, which utilizes a company’s intellectual property (IP) as collateral. By insuring the loan based on its evaluation of a company’s IP, PIUS helps facilitate greater loan amounts at better rates, while transferring the risk from the lender to the insurer. PIUS is a managing general agent (MGA) and provides more complete coverage than other policies through its residual value insurance program. For more information, visit https://piusre.com.
Adomni is a programmatic advertising platform that easily connects brands with on-the-go consumers via real-world digital screens. Advertisers can target audiences using mobile location data and launch campaigns in minutes, using one of the largest Digital Out-of-Home networks in the world. Currently, the Adomni platform offers access to over 70 billion monthly impressions on hundreds of thousands of digital screens across the US, Canada, EMEA and APAC. Learn more at www.adomni.com.