Vibenomics, a location-based Audio Out-of-Home™ (AOOH) advertising and experience company based in Indianapolis, IN, raised $6.5m in Series A2 funding.
The company intends to use the funds to launch additional national networks in convenience stores and grocery retailers.
The round, which included a combination of $4.5m in equity funding and $2m in venture debt, was led by BIP Capital and Elevate Ventures.
By combining licensed, background-music playlists and commercial spots paid for by brand advertisers, Vibenomics helps businesses with physical locations enhance store sales, enrich the customer experience and receive a share of advertisement revenue. Led by Brent Oakley, CEO, the company enables brands to talk to shoppers directly at the point-of-sale inside thousands of retail locations through Audio OOH advertising, impacting immediate purchase decisions.
Vibenomics, which currently has 44 employees, serves over 120 advertisers in more than 6,000 locations across 49 states, reaching over 200 million people.