VUGO® a Pioneer in Rideshare Advertising Announces Commitment From Florida Funders to Lead Series A, Relocates Corporate HQ to Florida in Response to Florida Senate Establishing Rideshare Advertising Guidelines via HB 1039
Today, VUGO®, the global leader in rideshare advertising & entertainment, announced that current investor Florida Funders of Tampa, FL has committed to leading their Series A. Florida Funders is the most active Florida-based VC Fund according to CB Insights. VUGO plans to continue their growth in rideshare advertising nationwide. This commitment comes after an announcement last month that Rep. Bob Rommel’s rideshare advertising bill (HB 1039), establishing guidelines for rideshare advertising, and opening up this lucrative market, was passed by the Florida senate. VUGO pioneered the rideshare advertising space in 2015 and has been defending rideshare drivers right to advertise since then. VUGO’s petition to the Supreme Court of the United States defending Uber & Lyft Drivers’ right to advertise under the 1st amendment in NYC (VUGO V. City of New York) is currently pending before the Court. VUGO will be moving their corporate offices to Florida in response to the new legislation in Florida.
VUGO’s technology enables advertisers, entertainment and media companies to intelligently distribute content throughout their rideshare advertising network. This is a single platform that can attribute and measure campaigns across multiple touchpoints, screens inside of and on top of vehicles. Rideshare Advertising is a new channel of Digital Out of Home (DOOH) media, that is part of unrouted transit advertising. The advantages of rideshare advertising are clear; getting your message in-front of passengers and pedestrians on the go can drive purchases and awareness both online and at Point-of-Sale locations locally.
With this investment and new regulation, Florida further validates the rideshare advertising industry which VUGO spawned when they launched in 2015. VUGO has focused on in-car video infotainment, and will start offering digital rooftop solutions in Florida over the coming months allowing Floridians to experience the power of roof top digital screens first hand. VUGO is also looking forward to working with the State of Florida on additional ways to benefit both passengers and drivers through distribution of targeted media and content for the benefit of the community. According to the bill, 10% of content will be reserved for nonprofits and charitable organizations. Armed with the most advanced rideshare advertising platform, VUGO has enabled one of the most advanced mediums for DOOH. VUGO and Florida Funders look forward to driving this medium as the new standard for brands and media throughout Florida in 2020 and welcome additional partners and brands as early supporters.
“We are happy to see Florida create a reasonable policy for the industry. Passenger trips are further enhanced by dynamic digital displays that can distribute important information to both passengers and pedestrians in real time, from promoting theme parks, events, public service announcements, new products or services and emergency notifications. We look forward to working with VUGO and the State of Florida to help grow rideshare advertising statewide and beyond as other states adopt similar common sense politics and policies that encourage innovation, and job creation that benefit everyone involved. The real winners today are the rideshare drivers who will benefit the most from earning more taxable income with their vehicles. Rideshare advertising will add value to the Florida economy by creating highly desirable advertising, promoting public service organizations and adding additional income streams for drivers.” says James Bellefeuille, President of the Rideshare Advertising Association.
Founded in 2015, VUGO pioneered rideshare advertising and entertainment spawning a billion dollar industry. In 2019 “Ad Dollars for Uber Drivers” was named one of the “Best Inventions of 2019” by Time Magazine and VUGO was ranked the #1 “Best Rideshare Advertising Companies To Make More Money” by The RideshareGuy.com, a leading rideshare industry publication. Today VUGO® powers leading rideshare experiences across the nation from California to Florida. F500 companies, ad agencies, brands, startups and the Ad Council have trusted VUGO to get their messages in front of passengers and pedestrians nationwide. VUGO has offices in San Francisco, CA and Minneapolis, MN. VUGO will be consolidating their corporate offices to the State of Florida. Major investors include Florida Funders, University of St. Thomas, Tihama New Media, and other prominent Florida Angel Investors.
About Florida Funders:
Florida Funders is a hybrid venture capital fund and early-stage investment platform led by a team of investors, innovators and senior level executives fixated on transforming Florida from the Sunshine State to the Startup State. Florida Funders propels investment by utilizing its community of investors, network of partners and a unique platform that provides transparency, fosters communication and empowers strategic relationships. Learn more at www.floridafunders.com and check out the explainer video on YouTube.
About The Rideshare Advertising Association:
The Rideshare Advertising Association is the national trade association for the billion dollar rideshare advertising industry; which includes rooftop advertising, in-car infotainment on tablets, exterior vehicle wraps and other forms of advertising using rideshare vehicles. The industry is experiencing explosive growth when compared to other advertising mediums. And the Rideshare Advertising Association mission is to promote and protect the interests of both its corporate and driver members. Learn more by visiting RideshareAdvertising.com.
Source: Vugo, Inc.