Malaysia's Rodeo is behind many of the creative ads on cars; raises $270k via crowdfunding

Rodeo is best known for some of the creative advertisements found on cars on the road.

Malaysia's Rodeo is behind many of the creative ads on cars; raises $270k via crowdfunding | BEAMSTART News

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Rodeo, a Malaysian startup behind some of the creative advertisements on cars on the road, has just raised MYR 1.131 million (~US $270,000) via their equity crowdfunding (ECF) campaign.

A total of 85 investors participated in the round via Malaysian equity crowdfunding platform, pitchIN.

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Key Highlights

  • Founded in 2017, Rodeo is a home-grown ad-tech company from Malaysia focused on delivering outdoor vehicle advertisements to consumers.
  • Some of the investors for Rodeo's equity crowdfunding round include Fidelity Funding (venture capital firm), angel investors, and several retail investors.
  • The new funding round takes the company's valuation to over RM12 million (US $2.85 million).
  • The fresh funds will enable the company to expand its offerings and further diversify its product-range — one of them being "home media advertising" via advertisements in building elevators.

Why It Matters

  • Rodeo reportedly has a strong clientele base serving more than 50 advertisers, with over 5,000 vehicle assets.
  • Rodeo claims to have access to over 100 condominiums within the Klang Valley to deploy their home media advertising solutions — a market the company believes to be a huge one especially during the pandemic.
  • In the coming years, Rodeo plans to expand beyond Malaysia to other markets such as India, Australia, The Philippines, and Indonesia.

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