NEW YORK, Jan. 8 /PRNewswire/ -- NOVUS Communication Technologies, Inc.(TM) ("NOVUS CT") announced today the closing of its second round of funding at $5 million, including investments from outdoor advertising veteran Karl Eller and Wall Street's Allen & Company, as well as personal investors behind some of the world's more envied retail brands. The capital infusion will be used primarily to scale NOVUS CT's market position in the Networked Digital Advertising space, and to enable the company to become revenue generating by early 2008.
Founded in 2000, NOVUS CT specializes in technology development, patents, and new business models in the rapidly expanding field of Networked Digital Advertising which includes such new advertising platforms as electronic billboards, digital vending machines, and interactive point-of-purchase signage. Partnering and consulting worldwide with out-of-home media vendors such as Clear Channel Outdoor, Lamar Advertising Company, and the Coca-Cola Company, NOVUS CT has helped its clients take maximum advantage of the recent shift of advertising monies away from traditional television, radio and newspaper advertising towards the increasingly effective Networked Digital Advertising media.
"We are excited by the level of investor interest NOVUS has received," said Clarke R. Keough, CEO of NOVUS CT. "The successful achievement of our fundraising goal and the high caliber of our investors clearly underscore the strength of both our business model and our positioning in the marketplace."
Nationally recognized entrepreneur Karl Eller, Chairman and CEO of the Eller Media Company, said, "I am highly confident in the development prospects of the NOVUS group, which is poised to become a global leader in Networked Digital Advertising at a key period in the organic growth of the out-of-home advertising market."
Keough added, "At this time, the marketplace is experiencing a dramatic increase in non-traditional advertising channels. Digital technology is improving, costs of digital screens are dropping, and technological advancement is creating the possibility of developing networks of digital out- of-home media. NOVUS's strategic footholds in the industry make the company ideally positioned to capitalize on this market environment."
About NOVUS CT
NOVUS Communication Technologies, Inc. is a company with an intelligent vision of how information age technology will transform the out-of-home advertising industry. NOVUS CT's vision is based on a multi-tiered strategy of technology, patents and new business models, which together combine to form a powerful opportunity for advertisers to take maximum advantage of the new and emerging Networked Digital Advertising media. Together with its partners, NOVUS CT operates two subsidiary companies, NOVUS Partners LLC and NOVUS Displays LLC.
NOVUS Communication Technologies, Inc.
