Digital signage and experience platform provider Raydiant has closed a $13 million Series A funding round co-led by 8VC and Atomic. Joining the round is American actor, producer and businessman Mark Wahlberg, along with Delta Zulu, Gaingels and BN Capital by Lerer Hippeau.
The new capital, which brings the company’s total funding to $20 million, will be used for product development and expanding Raydiant’s go-to-market team. New service offerings will focus on bridging the gap between offline and online experiences and increasing productivity. Additional backers include Bloomberg Beta, Transmedia Capital and Ron Conway.
Raydiant was founded in 2017 to create connected experiences for brick-and-mortar businesses using cloud-based digital signage technology. By plugging a Raydiant ScreenRay into an HDMI-equipped TV, businesses can create messages for in-store customers ranging from check-in procedures, sales and promotions to live video support, photos and social media feeds.
Raydiant’s customers include Wahlberg’s restaurant chain Wahlburgers, Harvard University, T-Mobile, Rockford Fosgate, First Bank, Clark’s Pest Control, The Hanover Company, Orkin, The Salvation Army, Pita Pit and Werqwise.
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The company reported significant growth in 2020 – revenue tripled and its customer base increased 60% – as retailers and restaurants used Raydiant to provide information about safety protocols, new store hours and takeout options in response to the pandemic.
“Our goal has always been to help our customers adapt to the rapidly changing needs of their customers,” said Bobby Marhamat, CEO of Raydiant in a statement. “The impact of COVID on brick-and-mortar locations across every industry, and in the workplace, has made Raydiant’s digital experience platform a critical advantage to help our customers drive sales, boost revenue and increase workplace productivity.”
