Vengo has successfully raised $14 million across multiple funding rounds, including venture and Series A stages. The company offers a turnkey technology and programmatic sales platform that connects digital out-of-home (DOOH) screens to programmatic advertising channels. With a network of over 53,000 screens, Vengo provides both media buyers and screen owners with a seamless platform for buying and selling media inventory.
Keep reading to learn more about Vengo’s funding journey, key investors, and what’s next for this innovative digital media company.
What Is Vengo?
Founded in 2012 by Abuhena Azad, Brian Shimmerlik, and Steven Bofill, Vengo is headquartered in Long Island City, New York. Operating at the intersection of digital media and brand marketing, the company combines interactive digital signage with point-of-purchase engagement to capture consumer attention and collect valuable insights.
Vengo serves a network of over 53,000 screens, offering advertisers programmatic access while helping screen owners efficiently monetize their inventory. The company employs between 11 and 50 employees, focusing on simplifying out-of-home advertising through technology.
The platform has become essential for brands looking to engage consumers at retail locations, providing both real-time performance data and streamlined campaign management tools.
Vengo Funding History
Vengo’s fundraising journey is a reflection of steady growth and strategic scaling:
- Seed Round (February 2013): $1M raised to kickstart operations and develop the initial technology platform.
- Series A (April 2014): $2M raised via SeedInvest to expand product offerings and broaden market reach.
- Series A Expansion (October 2015): $2M raised to enhance technology and scale operations.
- Debt Financing (March 2016): $2M secured to support operational costs and growth initiatives.
- Series A Follow-up (September 2016): Amount not disclosed, aimed at further expanding market presence.
- Series B (January 2019): $7M raised to accelerate growth and improve technological capabilities.
- Venture Round (September 2021): Amount undisclosed, led by Moderne Ventures and Gary Vaynerchuk to scale the business and enter new markets.
Total amount raised: $14 Million
Latest funding date: September 1, 2021
Current valuation figures are not publicly disclosed, but the company’s rapid growth and extensive screen network position it as a significant player in the DOOH and programmatic advertising space.
Key Investors
- Moderne Ventures – A venture capital firm focused on technology-driven companies that disrupt traditional industries. Moderne Ventures invests across various sectors, including technology, real estate, finance, insurance, and home services.
- Gary Vaynerchuk – Entrepreneur, investor, and digital marketing expert known for backing technology startups and social media ventures. Vaynerchuk’s involvement brings both capital and strategic guidance to Vengo’s growth trajectory.
These investors provide Vengo with a combination of financial support, industry insight, and market credibility, enabling the company to scale effectively in a competitive advertising landscape.
What’s Next for Vengo?
Vengo is strategically positioned for growth in the digital out-of-home advertising market. With over 53,000 screens under management, the company has the potential to expand both nationally and internationally. The platform’s programmatic capabilities allow advertisers to target audiences more efficiently and deliver measurable ROI, which is increasingly essential in today’s data-driven marketing environment.
Future opportunities include expanding into new retail verticals, integrating advanced analytics for advertisers, and partnering with major media networks to increase reach. The company may also explore additional funding rounds to scale its technology infrastructure further and expand its market presence.
Challenges exist, particularly in managing a rapidly growing network of screens, ensuring consistent performance and uptime, and navigating competitive pressures from other programmatic advertising platforms. Addressing these challenges while maintaining platform simplicity and efficiency will be crucial for Vengo’s continued success.
By combining innovative technology, a growing investor base, and strategic market expansion, Vengo aims to solidify its leadership in the DOOH and programmatic advertising sector while creating meaningful value for advertisers and screen owners alike.
Get Investor & Funding Insights with TexAu
TexAu helps sales and business teams uncover detailed fundraising information on companies like Vengo. Use the platform to research investors, track funding rounds, and gather actionable insights to strengthen prospecting and business strategy.
Get started for free on TexAu and turn data into smarter, faster business decisions.
