SF-based CMS Firm Raydiant Closes $13M Series A Raise
February 1, 2021 by Dave Haynes
There have been a few acquisitions lately, like Screenscape being picked up by Spectrio, but there is also investor money for backing existing companies in growth mode.
San Francisco-based cloud CMS software firm Raydiant announced it has closed $13 Million in Series A financing co-led by 8VC and Atomic, and also backed by actor Mark Wahlberg, who has been supporting the company for a while now and uses Raydiant in Wahlburgers burger restaurants.
The new capital, says the company in PR, brings the company’s total funding to $20M, will be used to invest in product development and expand Raydiant’s go-to-market team. New service offerings will focus on bridging the gap between offline and online experiences and increasing productivity.
The PR continues:
Raydiant was founded in 2017 to create connected experiences for brick-and-mortar businesses of any size, from small cafes to global enterprises, with its cloud-based digital signage technology. By plugging in a Raydiant ScreenRay into any 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 see an average revenue increase of 12% along with more repeat customers, and stronger brand loyalty.
The pandemic significantly accelerated Raydiant’s growth as retailers and restaurants used Raydiant to provide information about safety protocols, new store hours and takeout options. The brands who survive and thrive in the years ahead will be those who focus on serving these consumers and use in-location experiences as a competitive advantage.
Over 2,500 companies have chosen Raydiant to drive sales, boost revenue, and maximize the customer experience, including Harvard University, T-Mobile, Rockford Fosgate, First Bank, Rockford Housing Authority, Clark’s Pest Control, The Hanover Company, Orkin, The Salvation Army, Pita Pit, and Werqwise.
Raydiant says it tripled revenues and increasing its customer base by 60% last year, which would not have been easy, ‘cuz it was 2020.
In 2020, Raydiant partnered with XITE, to bring music videos to brick-and-mortar businesses, with Hoopla to provide customers with engaging performance management dashboards to home offices, announced the release of its proprietary LTE solution, powered by T-Mobile, introduced its Kiosk offering, an interactive tool for driving customer engagement, and launched an awards series to celebrate small business resilience in the midst of COVID-19.
Most recently, Raydiant partnered with Microsoft to develop a virtual tool called SecondScreen that gives teams the same face-to-face communication they would get in the office.
I did a podcast with Marhamat a few months ago: