In-location XM Firm Raydiant Gets Funds for Acquisitions

In the US, AI-powered, in-location experience management (XM) platform Raydiant has raised $30m in a Series B round of funding, which it will use to further develop its products through acquisitions and hire new team members.

Raydiant's platform enables brick-and-mortar organizations to deliver personalized and measurable on-screen experiences, powered by real-time audience and performance data insights, to both in-store customers and their back-of-house employees. The firm recently acquired shopper intelligence specialist Sightcorp, which has developed a proprietary AI-powered audience insights for digital signage, digital out-of-home (DOOH) media, and in-store analytics.

New funding was led by 8VC and Atomic Ventures, with participation from Lerer Hippeau, Gaingels, Mark Wahlberg, Haveli, Illuminate Ventures, and XRC, adding to the $13m Series A, which closed in January 2021. Bobby Marhamat (pictured), CEO at Raydiant, comments: 'This increase in funding will help us continue to drive the future of in-location experiences on a global scale. We're thrilled to receive support from partners who value our mission to support brick-and-mortar in a way that no one else can. We're excited for this next growth chapter and the opportunity to reimagine the retail experience as we know it.'

Web site: www.raydiant.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.