Captive Media closes £617,000 angel funding round
London Business Angels and London Co-Investment Fund partnership backing will be used to expand network of 50 UK venues and 12 countries
London-based washroom advertising start-up Captive Media has secured a £617,000 investment round.
The £200,000 investment from London Business Angels investors, in conjunction with £90,000 from the new £25m London Co-Investment Fund and a £65,000 investment by the LBA EIS Roundtable Syndicate Fund 2014, will be used to expand the business’ network of venues domestically and overseas.
A finalist in the Startups Awards Innovative Business of the Year category, the unique advertising start-up harnesses the previously untapped resource of men’s toilet habits to engage them in advertising campaigns.
Patented screens installed above urinals feature games that are controlled by urinating – with advertisers appearing digitally within the content or branding existing games.
Thanks to positive feedback from consumers and clients and international media coverage, Captive Media products are currently in more than 50 UK venues and have been exported to 12 countries, including the USA, Spain, France, Italy and Russia.
Big name brands such as Lynx, Captain Morgan, Dr Dre’s Beats as well as Campaigns for Drinkaware and Macmillan have already run advertising campaigns.
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Captive Media CEO, Gordon MacSween commented: “In 2014 we built a small, ad-based network in London and ran ad campaigns for Diageo, Apple, 20th Century Fox and other big brands. Now, with the backing of LBA, LCIF and other UK angels, we are creating a nationwide network of 200 screens.
“It’s a rare thing to say you make 100,000 laugh every week – and the best possible way to address the problem of advertising to a young, male audience.”
London Business Angels CEO, Anthony Clarke said: “The Captive Media team have developed a highly innovative and entertaining advertising platform whose ability to scale has already been proven at over 3o London venues.
“The LBA syndicate of £200,000 plus additional co-investment will allow the company to roll out its products at more venues across the UK and globally. I am also pleased that LBA was able to complete its first co-investment through its partnership with the £25m London Co-investment Fund.”