Diversified Web Holdings (DWH), a New York-based venture capital firm, recently announced that the company has made a strategic investment into Provision Interactive Technologies Inc., a subsidiary of Provision Holding Inc., a purveyor of interactive 3D holographic display technologies, software and integrated solutions.
DWH will work with Provision to build and expand their business in an effort to further penetrate the digital out-of-home (OOH) advertising industry and increase the company’s visibility to match its competitive edge in the 3D digital space.
In a report titled “Digital Out of Home: Hyperlocal and Hyper Growth?” BIA/Kelsey forecasts digital OOH advertising revenues to grow from $2.2 billion in 2009 to $3.7 billion in 2013, representing a compound annual growth rate of 13.5 percent.
“We are excited to be working with the DWH team as we believe they are a perfect partner for our disruptive 3D holographic display technologies,” said Curt Thornton, president and CEO of Provision, Chatsworth, Calif. “Our management team is certain that DWH’s network and industry expertise will help accelerate the rollout of the 3DEO platform.”
3DEO Reward Centers use Provision’s patented 3D holographic displays to draw consumer attention to featured products and are able to dispense related coupons and promotions, said the company. 3DEO provides advertisers with a unique and proven way of breaking through the clutter of in-store ads, according to the company. Some of Provision’s partners include Google, McDonald’s and Clear Channel.
“We look forward to working with Provision and based on recent media forecasts, we believe the company is poised for significant growth over the next several years,” said Crystal Agresti, manager of investor and public relations, DWH, New York. “We are very confident in Provisions unique media platform targeting consumers at the point of purchase and believe that 3DEO will disrupt the traditional 2D display advertising market.”