Cooler Screens, a Chicago, IL-based in-store digital media platform, closed an over $80m Series C funding round.
Backers included Verizon Ventures, Microsoft’s venture fund M12, GreatPoint Ventures, and a number of other preeminent strategic and financial investors. Silicon Valley Bank provided debt financing.
The company intends to use the funds for growth and national expansion, advance rollouts at several leading retailers, and develop its technology platform including its contextual advertising and digital merchandising capabilities.
Founded in 2018 and led by CEO Arsen Avakia, Cooler Screens has developed a patented in-store digital merchandising and media platform that enables consumers to experience in-store what they want to shop online.
Earlier this year, the company announced Walgreens will expand its platform into 2,500 stores across the U.S. The expansion, which is the largest installation of Cooler Screens’ technology thus far, is expected to reach over 75 million consumers monthly, including 2.5 million in-store consumers on a daily basis at Walgreens alone. Cooler Screens is also working with a number of leaders in the grocery and convenience store industry, including Kroger and GetGo, to bring a digitally enhanced shopping experience to the cooler aisle.