Access 360 Media Secures $12M Funding Round Led By New Investor Columbia Capital
Columbia Capital and Mission Ventures Planning Larger Capital Commitments for Leading Digital Out-of-Home Advertising Network to Further Continued Expansion and Industry Consolidation
NEW YORK, Jan. 5, 2011 /PRNewswire/ -- Access 360 Media (http://www.access360media.com), a leader in the digital place-based media category, today announced it has raised a significant round of Series C financing, led by Columbia Capital, who joins Mission Ventures. This represents a first step in a larger commitment expected by Columbia Capital to further increase Access 360's footprint in the digital out-of-home media industry through acquisition, new hires and organic growth.
"Since acquiring Arena Media Networks in early 2010, our new combined platform— encompassing both in-mall and in-arena networks—has paid off tremendously and we are thrilled with the progress the company is making," said Art Williams , CEO, Access 360 Media. "We are very excited to attract an experienced growth investor like Columbia Capital as we continue down the path of expanding our network organically and exploring acquisition opportunities. The digital out-of-home industry is heading for a period of consolidation, and Access 360 is extremely well positioned now to be a leader and major force in the sector given our strong organic growth rate and improved capital base."
"We believe digital out-of-home and place-based media provides an increasingly attractive value proposition for advertisers," said Columbia Capital Partner Jeff Patterson . "As audiences get more difficult to reach in traditional media as a result of increased DVR penetration and fragmentation across so many TV channels, we think advertisers will look for ways to interact with their customers on digital platforms outside the home. Shopping malls and sports stadiums are superb venues where advertisers can take advantage of targeted, rich media advertising with consumers while they are relaxed and receptive to brand messages or close to making purchase decisions. We believe the digital-out-of-home sector is a huge opportunity area for investment. Art has built the right team of experienced executives at Access 360, and we have tremendous confidence in their ability to be at the forefront of the category."
Mission Ventures' managing partner, David Ryan said: "Access 360 Media's truly capital-efficient business model and proven track record of making the right business decisions make them an ideal partner for us. We look forward to continued success with the Access 360 team."
In April of 2010, Access 360 completed the acquisition of Arena Media Networks, creating two distinct but complementary networks. Mallvision is an exclusive partnership with retail developers such as the Simon Property Group, Inc. to program screens in shopping malls across the country's most desired DMAs. The newly acquired Arena Media Networks digital network, AMNtv, is the nation's largest unwired sports and entertainment TV network, providing brands access to more than 100 million passionate fans attending sporting events, concerts and family entertainment events annually. Presently, Access 360 networks are available nationwide on over 20,000 screens in approximately 100 locations, with the potential to reach more than 54 million viewers each month.
MESA Global's Michael Josephs acted as Access 360 Media's investment banker in the transaction.
About Access 360 Media
Access 360 Media is a leading place-based media and marketing solutions company with multiple digital networks in entertainment, sports and shopping destinations nationwide. Access 360′s presence in the marketplace infiltrates a highly desirable space and brings together the benefits of traditional and non-traditional media, connecting brands to passionate and receptive consumers on a daily basis. With more than 20,000 screens in over 100 locations, Access 360 has the potential to reach more than 54 million viewers each month.
Access 360 Media's two primary networks, AMNtv, the nation's largest stadium and arena television network, and Mallvision, premiere in-mall television network, engage viewers with a combination of live programming and relevant short-form content, enabling advertisers to develop and implement targeted programs with valuable results. Access 360 Media operates its networks in-house, and is partnered with over 50 professional sports teams and affiliated entertainment venues, Simon Property Group, Inc. – America's largest developer of shopping malls – and third party content providers
About Columbia Capital
Columbia Capital is a venture capital firm specializing in communications, media, and technology investments. Founded in 1989, Columbia Capital has helped establish more than 100 early stage ventures and currently manages more than $2 billion in capital. In the wireless communications and media categories specifically, Columbia Capital has been a founding investor in such notable successes as XM Satellite Radio, Nextel Communications, WNP Communications, WCS Wireless, NeoWorld Communications, and Digital Television Services. Columbia Capital has also currently invested in numerous leading mobile and media companies including MetroPCS, Mobile Satellite Ventures, Revol Wireless, Coral Wireless, SiTV, Freewebs, and Turbine. For more information, visit Columbia Capital at http://www.colcap.com.
About Mission Ventures
Mission Ventures, founded in 1996 and now with over $500m under management, helps build successful enterprises in Southern California and creates superior returns on investment for its investors. This is accomplished by investing in the most promising early-stage companies in high growth, emerging markets, and providing significant assistance to those companies as they develop. The Partnership brings value-added capital, experience, management talent, and guidance to the most outstanding and innovative ideas and entrepreneurs in the region.
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