Friday, December 7, 2018

Firefly Gets $21.5M For Ridesharing Ad Network

San Francisco-based Firefly said on Thursday that it has raised $21.5M in a seed funding, for its on-vehicle advertising screens for ridesharing drivers. The funding was led by NFX, and also included Pelion Venture Partners, Decent Capital (Tencent founders), and Jeffrey Housenbold (SOFTBANK Vision Fund), Cross Culture Ventures, Muse Capital, StartX and others. Firefly's business revolves around digital "smart screens" which are mounted on top of ridesharing vehicles, which turn those vehicles into moving displays showing ads. Firefly says average drivers on its network are earning an additional $300 per month for using its displays, which show off geotargeted ads to passers-by.