BILLERICA, Mass. and NEW YORK, March 23, 2023 /PRNewswire/ -- Quantela, an urban infrastructure solution provider, and Starlite Media, a leading retail media network, announced today a strategic partnership to drive, expand and optimize Starlite's digital retail media network. Digital Alpha, the lead investor, will provide the capital required for the project.
Starlite Media's network has over 6,000 media assets in the top 20 Designated Market Areas. Through the partnership with Quantela, Starlite plans to add more than 5,000 new digital media assets over the next three years to reach more than 10,000-strong networks.
Starlite Media will leverage Quantela's data analytics, and visualization capabilities to optimize and expand its retail media network. Quantela's Platform will provide insights into consumer behavior, preferences, and buying patterns, which will help Starlite develop highly targeted and personalized campaigns that drive sales outcomes and increase brand awareness. Furthermore, this partnership will unlock new revenue opportunities for Starlite, allowing them to expand their offerings to deliver more value to advertisers, retailers, REITs, and other shopping center owners.
"Quantela's extensive experience in handling data for large urban infrastructure projects allows us to analyze Starlite Media's data and give them priceless insights to optimize their network and increase their revenue from every asset. With support from our financing partner, Digital Alpha, we created an offering that delivers great outcomes with a real positive impact on Starlite Media's business," said Sridhar Gadhi, Founder and Executive Chairman of Quantela.
"The opportunity in retail media is greater than ever. Industry leaders, such as Walmart, Amazon, Criteo, and The Trade Desk, have touted the enormous potential of digital media that is augmented by advanced analytics. Starlite Media and its partners are poised to benefit greatly from this trend," said Harold Lueken, Starlite's CEO.
"Our partnership with Quantela is a game-changer for Starlite, enabling us to leverage their data-driven platform and analytics capabilities to deliver unparalleled value to our clients. As more retailers use digital media programs, the demand for effective messaging and integration is ever increasing. Starlite is now positioned to meet this demand with its state-of-the-art, large format digital displays. With this partnership, we have the resources to grow the size of our digital network to meet all media buyers' expectations and to maintain Starlite's leadership position in the out-of-home retail media space, which industry leaders have termed the 'Best in Class'," Mr. Lueken added.
"As a leading investor in digital infrastructure, Digital Alpha is thrilled to support Quantela's innovative partnership with Starlite Media. We are confident in the revenue potential of this unique approach and excited to invest $50 Million in the project, with an aspiration to expand this initial investment in deployment over additional phases, as we continue to expand our digital screen network across the country. We are excited to partner with real estate groups that can provide access to a larger footprint of screens and help us achieve our goals. By leveraging our expertise in funding technology-driven solutions, we believe this partnership will drive significant growth and value for both parties," said Rick Shrotri, Founder and Managing Partner at Digital Alpha.
About Quantela:
Quantela Inc., founded in 2015, is a technology company that offers end-to-end infrastructure digitization solutions leveraging our proprietary Data Platform. Quantela offers solutions for Smart Cities, Utilities, and large Public Venues, with an innovative outcomes-based business model reducing the risk for our customers. Our team of 300+ experts offers a vast array of solutions like smart lighting, smart traffic, location insights, digitized land records management, and digitized citizen services. We are supported by our key investors, Digital Alpha, a leading alternative asset manager focused on digital infrastructure; and Energy Impact Partners, a global investment platform leading the transition to a sustainable energy future. The Company is headquartered in Massachusetts with offices across Europe, the Middle East, and Asia.
About Starlite Media:
Starlite is building the premier digital out-of-home advertising network at outdoor shopping centers. Starlite's centers are anchored by high-traffic, necessity retailers--- groceries, drugstores, big box, telecom, restaurants, gyms, spas, and other consumer-attracting venues---which provide the essential goods and services for the suburban communities they serve. Our full-motion digital displays are the largest and brightest at these centers and are strategically placed at the shopping center's or retailer's choke points and other high-traffic areas. Over the next months and years, Starlite will expand its approximately 300 digital displays in the top US markets by converting most of its 6,000 static displays to digital. Anchored by top retailers such as Walmart and Target, grocery chains like Stop & Shop, Albertsons, Publix, and ShopRite, leading pharmacies as Walgreens and CVS, and a wide array of consumer services and personal care destinations like LA Fitness, Starlite's centers generate the highest foot and auto traffic in their suburban areas. The impression quality of its displays—visibility and dwell time---together with their prominent locations make Starlite the best out-of-home media choice for place-based retail and targeted audiences.
About Digital Alpha:
Digital Alpha Advisors, LLC is an investment firm focused on digital infrastructure required by the rapidly expanding digital economy, with total assets under management of over $1.5B. The firm has a strategic collaboration agreement with Cisco Systems, Inc. and has partnered with other leading Silicon Valley firms. Digital Alpha believes it is the first firm focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including next generation communications networks, IoT platforms for urban infrastructure, and cloud-based data management platforms. Digital Alpha was founded in 2017 by Rick Shrotri, former Head of the Global Infrastructure Funds (GIF) team at Cisco, and closed its latest Fund – Digital Alpha Fund II, LP – in early 2021. For more information, please visit www.digitalalpha.net
SOURCE Quantela
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