An Indonesian startup that focuses on lift advertising bags pre-series A money

Out-of-home (OOH) advertising makes up only around 6% of the total global advertising spend. However, this amount can’t be underestimated. The Global Media and Entertainment Outlook report from PwC, for example, had predicted in 2019 that the OOH market in Indonesia could reach US$388 million in 2020.

Most of the industry involves the use of billboards, videotron, and ads placed on the bodies of cars and buses. However, there is a startup that focuses on a specific niche: lift advertising.

Photo credit: Lifty Media

Founded in 2019 by Albert Wu and Rocy Xie, Lifty Media has been focused on providing advertising solutions with the use of elevators. Wu in a statement said that the lift advertising business has been popular in China for years, which is why he became interested in applying the same model in Indonesia. The company currently has more than 3,000 advertising spaces in the country.

Recently, Lifty Media raised an undisclosed sum in a pre-series A round led by several VCs in Indonesia. The company currently has 21 employees, most of them working as business development and sales executives. With the fresh funds, Lifty Media aims to make its advertising services be available in more buildings and serve more clients in Indonesia.

Wu also said that most of the company’s advertising spaces are located in apartments and not in office buildings. He credited this as the reason why the business was not so affected by the Covid-19 pandemic. He also claimed that the company has become profitable since Q4 2020.

Prior to this round, Lifty Media had received seed funding from a group of Chinese angel investors.