NEW DELHI, INDIA — Alfi, Inc. (Nasdaq: ALF) (“Alfi” or “the Company”), an AI enterprise SaaS platform company, today announced the signing of a letter of intent with Lemma, one of the largest and fastest-growing programmatic DOOH (Digital Out of Home) networks, to cross-sell and promote each other’s operations and services as part of their respective offerings to customers across countries. Alfi and Lemma have already commenced work on implementations utilizing Alfi’s SaaS platform at the Denver International Airport and Indira Gandhi International Airport, New Delhi, India.
Lemma leads the DOOH industry with data and best in breed technology driving both innovation and effectiveness in the OOH ad space with programmatic DOOH. Lemma empowers its clients with a granular level of data spanning across multiple processes like planning , targeting, reporting, analytics, audience buying and more. It has over 150,000 screens in shopping malls, airports, and other outdoor signs, in over 15 countries that are connected to the first end-to-end programmatic DOOH exchange, accessed by multi-channel buyers and suppliers who connect and transact in DOOH without having to modify their platforms or do custom integration.
Alfi provides solutions that bring transparency and accountability to the DOOH advertising marketplace. Since 2018, it has been developing its artificial intelligence advertising platform to deliver targeted advertising in an ethical and privacy-conscious manner. Alfi provides data-rich reporting functionality that informs advertisers that someone viewed their ad, their reaction to it, and how many people have seen it. Alfi delivers for advertisers with analytics, accountability, transparency, proof of engagement, and actual impressions.
Kevin Buchler, Vice President, UK Operations, Alfi said, “We are seeing strong growth in the DOOH advertising part of our business as clients increasingly demand data-rich reliable reporting covering everything from the demographics of the audience looking at their ads to their reaction to them. Through our technology, we provide the analytics, accountability, transparency, proof of engagement, and actual impressions they require.
“Collaborating with Lemma will dramatically increase the roll-out of our technology and solutions on a global scale. Our AI enterprise SaaS platform is an ideal product and service add-on to offer on Lemma’s 150,000 screens worldwide.”
Sabarish Pillai, Global Vice President, Programmatic, Lemma said, “We are fast becoming the world’s largest online digital out of home network, experiencing exponential growth in our screen count. Our collaboration with Alfi will enhance our existing data capabilities boosting our services across targeting, reporting & data analysis to our clients, further strengthening and differentiating our proposition.
“We share Alfi’s passion for huge advances in technology and a growing focus on more precision targeting of audiences and real-time evaluation, making programmatic advertising one of the most exciting and dynamic developments in marketing.”
Research (1) from Alfi with senior advertising executives from around the world revealed 95% expect the Digital Out of Home (DOOH) advertising sector to grow over the next two years, with 51% anticipating dramatic expansion. At the end of 2020, the DOOH advertising market was estimated to be worth $41.06 billion (2), 65% of senior advertising executives interviewed said that by 2026, they expect it to be worth between $50 billion and $55 billion. Nearly one in three (30%) anticipate it will be worth even more.
In terms of spending on programmatic advertising, the research found 49% of senior advertising executives expect it to increase dramatically over the next three years, and 43% believe there will be a ‘slight’ rise.