Raydiant, a US-based signage technology provider that counts Bloomberg Beta, the venture capital firm backed by media group Bloomberg, as an investor, completed its $13m series A round yesterday.
VC firms 8VC and Atomic co-led the round, which also featured Lerer Hippeau’s BN Capital fund as well as Delta Zulu, Gaingels and actor Mark Wahlberg.
Founded in 2017, Raydiant has built a cloud software product that allows brick-and-mortar organisations to create their own digital signs which can be displayed on any HDMI-equipped television set. It said it more than tripled its revenue during 2020.
The company revealed it has now raised $20m in total, $7m of which came in a late 2019 round led by 8VC and backed by Bloomberg Beta, Atomic, Lerer Hippeau, SV Angel and Transmedia Capital.
Raydiant’s chief executive, Bobby Marhamat, said: “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.
“We are grateful to our investors and partners who share our vision of transforming how the world connects through one-of-a-kind interactive experiences.”
