US-based retail display technology provider Cooler Screens completed an $80m series C round yesterday that included telecommunications firm Verizon and software provider Microsoft.
The corporates participated through corporate venturing units Verizon Ventures and M12 and were joined by venture capital firm GreatPoint Ventures and unnamed additional investors. Silicon Valley Bank supplied debt financing as part of the round.
Cooler Screens has built an in-store media and merchandising system that allows retail chains to provide product information and advertise goods. Its lead product consists of electronic doors for in-store fridges, and utilises technology from Microsoft and Verizon.
The series C funding will support the rollout of the technology to more chains, following an expansion of its deal with pharmacy chain Walgreens in January this year.
Cooler Screens had previously operated in stealth but said yesterday that the series C round took its total funding past the $100m mark and valued it at more than $500m. Its earlier investors include VC firm TransLink Capital.
Nagraj Kashyap, head of M12 and a member of the company’s board of directors, said: “Cooler Screens’ platform was founded on the core idea that bringing the power of digital to brick-and-mortar retail has the potential to fundamentally change the consumer experience for the better.
“We are thrilled to continue to support and partner with an exceptional leadership team that’s decidedly reimagining the retail product discovery experience.”
Photo courtesy of Cooler Screens.
