Raleigh, NC and New York, NY – Reveal Mobile, the results-driven geofencing marketing company, announced today the company has acquired Mira, an out of home (OOH) focused location intelligence company based in New York City.
Reveal Mobile also announced Lyft, Inc. (LYFT) has become the first new customer of the expanded company. Lyft plans to use Reveal Mobile and Mira technology to enable a full suite of attribution and measurement products for vehicles equipped with Lyft’s rooftop digital screens. The subscription-based attribution and measurement solution will enable these vehicles to become fully measurable out of home ad units.
“Mira has long been the premium solution for mobile OOH performance measurement,” said Faizan Bhatty, head of business development and strategic partnerships for Lyft Media. “We’ve long wanted to work with Mira, and now’s the time as a result of this acquisition. The company has truly democratized attribution, making it available to a wide range of our advertiser clients. We were determined to work with the optimum provider, and we’re excited to work with Reveal and Mira as our preferred measurement solution.”
While 2020 was a challenging year for digital marketing and paid media teams, Reveal Mobile brought on more than 100 new customers. The company’s new monthly recurring revenue from its geofencing marketing and attribution product, VISIT Local, grew 75% during the year.
Building on this momentum, the company is strengthening its position in the OOH market with the acquisition of Mira. The OOH market is projected to grow 14.5% this year, while digital OOH is expected to grow 19.2%.
“The Mira acquisition brings Reveal Mobile ever closer to fulfilling our mission to democratize attribution for a wide range of marketing campaigns, with out of home at the top of that list,” said Brian Handly, CEO of Reveal Mobile. “We’re removing the frustration advertisers across the U.S. and Canada feel when trying to prove the business value of their paid media investments. We’re doing this by bringing clear, accurate, and actionable location-based ad campaign performance reports to their fingertips.”
Mira provides solutions designed to make OOH ads and assets more valuable, effective and measurable. The company ties OOH exposure to several types of consumer behaviors, including store visits, streaming video views, website visits, mobile app installs and in-app purchases and brand lift.
“Mira fills a critical and largely unmet need in the OOH advertising industry by delivering a full suite of planning, research and ad optimization tools, along with our world-class audience measurement and attribution capabilities,” said Jonathan Frangakis, CEO and co-founder of Mira. “Joining the Reveal Mobile team provides us with a strategic opportunity to provide marketers with the tools and confidence to measure out of home in just the way they have been clamoring for.”
Jonathan Frangakis will serve as Reveal Mobile’s Chief Commercial Officer. Gabe Frangakis joins as Chief Technology Officer. All Reveal Mobile and Mira employees are being retained as part of the acquisition.
Mira’s technology is used by sell-side and buy-side organizations, including some of the largest OOH buyers and owner/operators in the world. While OOH advertising dropped 29% in 2020 due to the COVID-19 pandemic, Mira continued to grow in 2020, beating the market by 40 points while also turning a profit.
“We see tremendous value in the OOH market. It’s a unique advertising channel that requires its own measurement approach, and we’re delighted to welcome Lyft into our customer community,” said Handly. “Mira has created the most innovative and authoritative OOH measurement methodology on the market, and several of the biggest names in the industry trust them to deliver on that approach every day. Together, we’re redefining what’s possible and accessible to all marketers in campaign attribution.”
With the expansion of the Reveal Mobile team, Dan Dillon has been promoted to chief marketing officer. Having served as the company’s vice president of marketing since August 2019, Dillon has been instrumental in driving revenue growth and increasing marketing ROI.
About Reveal Mobile
Reveal Mobile provides customizable geofencing marketing solutions to ad agencies, brands, retailers, media, and out of home companies. Creator of VISIT Local, the company’s award-winning product allows companies of any size to leverage location data to understand, reach and measure the right audiences. Reveal Mobile is CCPA and GDPR compliant and adheres to the Network Advertising Initiative code of conduct. The company is based in Raleigh, NC and New York, NY.