Oct. 11, 2013
Elevate Digital, a Chicago-based company whose interactive outdoor kiosks can be found throughout high-traffic areas in the city, announced this week that it has secured $1.5 million in venture funding to help fuel its expansion efforts.
Formerly branded as SmartDigital, Elevate has more than 70 kiosks around Chicago in locations such as Navy Pier and Water Tower Place. The machines invite passersby to interact with advertising, view tourist information and even snap a self-portrait. A partnership with Groupon also allows users to purchase daily deals and real-time offers directly from the kiosks.
Elevate said in a news release that its kiosks have the ability to collect unique data and generate predictive analytics. The Chicago network currently generates thousands of active clicks, passive impressions and consumer profiles per month.
"Our platform is disrupting traditional out-of-home advertising, enabling advertisers to activate their brands and connect with customers through a truly engaging medium," said George Burciaga, founder and CEO of Elevate Digital. "With this funding, we will continue developing products and content that engage consumers, especially through mobile and social channels at street level."
The $1.5 million in funding is from New York-based money management firm Partners Path Investments LLC. Jeff Bernstein, chief investment officer of Partners Path, said Elevate empowers businesses to reach and transact with people at or near the point of consumption.
"Out-of-home advertising is the last major channel that has yet to be transformed by the power and flexibility of networking, the visual impact of video, and the big data analytics afforded by social media," said Bernstein.
Elevate wants to install its kiosks in other cities, including Los Angeles, San Francisco, Dallas, Boston, Philadelphia, New York, Washington, Atlanta and Miami.
Read more about outdoor kiosks.