Raydiant Raises $30 Million in Series B Round of Financing to Reimagine In-Store Experiences for Traditional Retailers

StartUp City | Wednesday, February 23, 2022

Raydiant is the preferred AI-powered in-location experience management platform for the world's largest brands in retail, e-commerce, restaurants, and other industries

Fremont, CA: Raydiant, the leading in-store experience management platform for brick-and-mortar businesses, raised $30 million in Series B round of financing led by 8VC and Atomic Ventures, with participation from Lerer Hippeau, Gaingels, Mark Wahlberg, Illuminate Ventures, and XRC. The funds raised will be used to continue innovating Raydiant's product offerings through strategic acquisitions and hire key team members to execute Raydiant's go-to-market strategy as the company moves upmarket.

"Raydiant was founded as a digital signage company with the mission of modernising the brick-and-mortar tool stack in order for brands to thrive in our new experience-driven world." "We've since evolved into a full-service platform powered by AI and the market leader in in-location experience management," said Bobby Marhamat, Raydiant's CEO. "This additional funding will allow us to continue to shape the future of in-store experiences for both in-store customers and back-of-house employees on a global scale." The pandemic has changed the way we shop and interact with brands, and brick-and-mortar businesses must adapt to survive. But they can't do it on their own. We are overjoyed to have received support from partners who recognize the importance of our mission to support brick-and-mortar in a way that no one else can. We're looking forward to the next chapter of our growth and the opportunity to reimagine the retail experience as we know it."

According to Raydiant's 2021 State of In-Store Experience study, even during the pandemic, 48 percent of consumers prefer to shop in-person at a physical store when given the option. In addition, according to the 2021 State of Consumer Behavior report, 90 percent of consumers are more likely to return to a store after having a positive in-store customer experience, and 61 percent are more likely to spend more, indicating that in-person experiences have a direct impact on the success of brick-and-mortar businesses.

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