YCD Multimedia, provider of smart in-store digital media solutions to maximize retailer sales and profitability, today announced that it has closed a new financing package totaling $12 million. The financing package includes new equity investment, led by venture capitalists Pitango Venture Capital and Arts Alliance Digital Ventures and conversion of a bridge loan facility.
Rami Kalish, Managing General Partner and Co-Founder of Pitango and Chairman of YCD Multimedia said, “Our continued support and investment in YCD reflects our confidence in their vision for the future of retailing and their solid momentum toward reaching that vision.” The company will use the funds to continue to build on its presence in the US and UK markets and to invest in its product roadmap, providing retailers with a turnkey platform to create, manage, distribute and optimize in-store digital media to help drive sales and profitability. “This new investment gives us the capital to support the initiatives we are undertaking with larger chains in the US and internationally,” said Barry Salzman, Chief Executive Officer.
For more information and media inquiries please contact YCD Multimedia at info [at] ycdmultimedia.com or 646-237-8100.
Source: YCD Multimedia