Smart Media Group says it’s on its next phase of its growth after receiving a “significant investment” from M Core Ventures.
Neither party has released the exact sum, but it is in “7 figures” and means M Core Ventures will take a minority share in the North East company.
Smart Media Group is the parent company of Smart Outdoor, Smart Vision, Smart Communications, and Smart Media Buying.
It plans to use the cash to grow its market presence across the UK and Europe. It also aims to recruit 15 staff in the next 12 months, taking its total headcount to 42.
“This is a significant moment in the history of Smart Media Group,” said Mark Clancey, Chief Commercial Officer of Smart Outdoor & Smart Media.
“Partnering with M Core Ventures will give us the opportunity to grow and futureproof the business. It enables us to create a North East media hub, investing in local talent who will ultimately drive our business forward.”
Its Smart Outdoor subsidiary is the largest provider of large-format digital out-of-home advertising screens in the North East of England. It currently has 450 screens across the UK, in locations such as Tyne Tunnel, Tyne Bridge, A19 and Murrayfield stadium and is expected to expand this to 2,000 screens by the end of 2025.
“Through intelligent technological developments and the continuation of our outstanding customer services, this substantial investment will enable the Smart Media Group estate to become one of the largest in the UK,” added Mark Catterall, CEO of Smart Media Group.
“We are thrilled to be working in partnership M Core Ventures and are excited to see the impact our business growth will have upon the North East.”
M Core Ventures is the corporate venture capital arm of M Core, a pan European property collective with a combined portfolio worth more than £5.3billion.
“We are delighted to be partnering with Mark and the team to support Smart Media Group’s growth agenda. We are excited by the scalability of the DOOH market and see considerable synergistic benefits to our partnership,” said Max Percy, CEO of M Core Ventures.
