Using Synaps Labs technology, advertisers can reach their intended target audience through digitised billboards by the side of roads. In this way, ad revenues of media owners will be increased as advertising will be properly targeted. On top of this, the company will also provide traffic analytics to improve road safety and help city officials design better, more cost-effective transportation networks for the future.
HOW THEY’RE DISRUPTING
Currently, drivers mostly see traditional advertising billboards when they are driving on highways. But for the company who has paid for them, it is impossible to be certain whether the advert was effective or not. Synaps Labs uses a combination of software and hardware to close this attribution loop. By using neural networks – a type of machine-learning algorithms – it can classify in real-time the make, model, and other relevant attributes of the car as it drives by one of their specially-designed cameras and sensors mounted in front of the digital billboard. The billboard will then show the most relevant advertisement based on concentration analysis of the different target groups passing through. The presented ad will be adjusted to the audience of 10-20 cars. Synaps Labs ensures that any data it gathers will be highly secured.
Spending on out-of-home advertising is expected to exceed $4.5 billion in the US in 2019.
It’s also estimated that worldwide traffic congestion cost the US alone around $305bn just in the last year.
INVESTMENTS AND FUTURE
The company has received an undisclosed amount of funding through Non-Equity Assistance in 2016.