Reveal Mobile Acquires OOH Location Intelligence Startup Mira
Reveal Mobile, the location data firm that provides geofencing marketing solutions to ad agencies and brands, announced both a big acquisition and a big-name client this morning. Reveal has acquired Mira, a location intelligence player in the out-of-home advertising space. It also snagged Lyft as the newly expanded company’s very first customer.
The acquisition creates what Reveal describes as the first ad tech SaaS platform to provide attribution reports for online-to-offline, offline-to-online, and offline-to-offline marketing campaigns. The company will be bringing Mira’s entire team onboard.
Mira is best known for its mobile OOH performance measurement solutions and for democratizing attribution by making its solution available to a wide range of advertisers. The company ties OOH exposure to multiple types of consumer behaviors, including store visits, streaming video views, website visits, mobile app installs, in-app purchases, and brand lift.
Reveal Mobile CEO Brian Handly says the acquisition strengthens his company’s position in the OOH market, which is projected to grow 14.5% this year. Digital OOH is expected to grow 19.2%.
While 2020 was a difficult year for many digital marketing and paid media teams, it was a year of growth for Reveal. Reveal brought on more than 100 new customers in 2020, while the company’s monthly recurring revenue from its geofencing marketing and attribution product grew 75% during the year.
Acquiring Mira should help Reveal fill a largely unmet need in the OOH advertising industry by delivering a full suite of planning, research, and ad optimization tools along with audience measurement and attribution capabilities. The deal provides Mira with a new strategic opportunity to extend its reach and provide a wider group of marketers with tools to measure OOH as well.
Mira co-founder and CEO Jonathan Frangakis will serve as Reveal Mobile’s chief commercial officer. Gabe Frangakis will join as chief technology officer, and Reveal’s Dan Dillon has been promoted to chief marketing officer. Dillon had previously served as the company’s vice president of marketing since August 2019.
Partnering with Lyft
In addition to its acquisition of Mira, Reveal also announced a deal with Lyft on Tuesday. Lyft plans to use Reveal and Mira technology to enable a suite of attribution and measurement products for vehicles equipped with its rooftop digital screens. The subscription-based attribution and measurement solution will allow these vehicles to become fully measurable OOH 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.”
The push toward adding digital signage to rideshare vehicles has been underway for some time, but measurement had been a challenge until now. Handly says Reveal and Mira’s technology will be a game changer in allowing Lyft vehicles to become fully measurable out-of-home ad units.
“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,” Handly says. “Together, we’re redefining what’s possible and accessible to all marketers in campaign attribution.”
Stephanie Miles is a senior editor at Street Fight.