The German industrial conglomerate and S4S Ventures are spearheading a $21 million Series A funding round for 4. screen, which enables brands such as Shell to target drivers on the move.
A subsidiary of the German multinational Continental and a venture fund co-founded by Sir Martin Sorrell have led a $21 million investment in a driver interaction platform whose clients include McDonald’s and Shell.
4.screen, which was founded by a group of former BMW executives, will disclose its Series A funding round on Tuesday.
According to the consulting firm McKinsey, the startup intends to delve into the largest untapped market in the digital advertising ecosystem, which will ultimately be worth $600 billion or more globally.
S4S Ventures, which was established last year as a joint venture between Sir Martin’s holding company S4 Capital and Stanhope Capital Group, will be involved in the 4.screen fundraising.
Its participation is intended to contribute marketing and advertising expertise to the company. While Continental Corporate Venture Capital provides extensive automotive technology expertise.
4.screen uses in-vehicle technology and exclusive data signals to let brand advertisers engage with drivers on their car displays.
It uses vehicle sensor data such as location, engine type, car brand, and fueling or charging levels to provide drivers with information about nearby businesses such as parking, restaurants, and shops.
It gives marketers who use its platform targeting precision that other in-car channels cannot match, according to the firm.
4.screen, founded in 2020, has also secured financial support from two German venture capital firms, Summiteer and BayBG, as well as automotive industry heavyweights such as Matthias Müller, a former Volkswagen CEO, and Bram Schot, a former Audi CEO.
Ptolemus Consulting analysts estimate that by 2030, there will be 600 million connected cars worldwide.
In light of the halting growth of major digital and social media channels, one advertising industry executive deemed the expansion of platforms such as 4.screen to be particularly crucial.
It is believed that 4.screen is operational in millions of vehicles manufactured by automakers such as Audi, Skoda, and Mercedes-Benz, and it has over 60 brand clients on its platform.
Its Sequence A capital injection is intended to fund international expansion, including in the United States.
Fabian Beste, co-founder and chief executive officer of 4.screen, stated, “We are now in a position to expand our operations beyond Europe and provide exceptional experiences to drivers and businesses worldwide.”
Sanja Partalo, co-founder and managing partner at S4S Ventures, stated that the startup’s platform would “give birth to a new breed of ad formats and marketing experiences, which 4.screen and their automotive partners are uniquely positioned to offer.”
Jürgen Bilo, managing director of Continental’s Corporate Venture Capital unit, stated that the development of 4.screen would “open the door to a new era of e-commerce in mobility.”
