Yesterday Adquick announced it raised $1.1 million in seed funding to enhance its platform for automating the out of home sales process.  The company attracted a who’s who of Silicon Valley investors including investments by Initialized Capital (a fund whose executive team includes former Y-combinator Garry Tan and twitter co-founder Alexis Ohanian), Tony Hsieh’s VTF and Semil Shah’s Haystack Ventures. Insider talked with Adquick co-founder Matt O’Connor.

Matt what does the raise mean for out of home advertising companies?

For vendors, this raise allows us to expand our free supplier facing tools: inventory management, RFP, internal marketplace, digital contracts, and immediate receivables, among others. We’re taking the “come for the (free) tools, stay for the network” approach and want to provide immediate value to our media vendor partners while building out our buying base and driving new business to vendors.

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