Axon Partners Group has invested in the leading Digital Signage company in Colombia, Enmedio in a funding round that will add up to USD 4 million in the next 24 months.
Enmedio uses digital screens strategically placed in public and private locations to display content, like advertisements, news, information and entertainment. The investment with Axon Investment’s Amerigo Ventures Pacifico Fund will mainly be to consolidate Enmedio’s position of Enmedio as industry leader in Colombia. This transaction will also allow Enmedio to develop and expand to new international markets within the Andean Region and Central America; markets where Axon has extensive, broad experience and know how. Axon joins previous investors of the company, led by the Colombian newspaper El Colombiano.
Alfonso de Leon, Managing Partner of Axon Partners Group, comments: “We are very impressed by the achievements of Enmedio to date. Enmedio has a team of talented entrepreneurs leading a project that already has a strong presence in the market and huge potential to expand internationally.”
Enmedio was founded in 2006 by Sebastian Molina, Sebastian Obregon and Daniel Pelaez and currently has over 2,050 screens installed in 45 municipalities in Colombia. The business is growing at a rate of about 40% annually and expects to double that amount in the coming years.
Sebastian Obregon Enmedio CEO comments: “With Axon’s investment we will have the necessary strength to establish a clear difference between ourselves and our competitors in Colombia. We plan to renovate our current displays with more sophisticated, bigger formats, that operate 100% online and in current time. In addition, we are going to double our current coverage from just over 2,000 screens to more than 4,000 screens for 2017.
“We are going to invest in new technologies like sophisticated audience measurement systems and multiple interactive systems with screens. Additionally, this investment will also permit us to drive our new business units like Digital Signage for businesses, BTL activations and production of content for digital media. Finally, with the experience of Axon’s investment team, and its global network of offices throughout the world, it gives us a very valuable base to begin our internationalization process in the region.
Amerigo Ventures Pacifico, is a Growth Capital Fund, launched by Axon in 2013 to invest in digital economy companies in LatAm that have the potential to expand internationally. Besides Enmedio, the fund currently has four other digital economy Colombian companies in its portfolio: O4IT, PideFarma, RedSeguro, and its successful investment and exit in ClickDelivery (also known as Domicilios.com). The investment was executed in 2013 and exited a year later, generating an IRR of more than 500% for investors.