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Cooler Screens closes on more than $80 million in Series C funding round

Cooler Screens has closed a more than $80 million Series C funding round from Verizon Ventures, Microsoft’s venture fund M12, GreatPoint Ventures and a number of other investors. Since its founding in 2018, the Chicago-based in-store digital media platform has raised more than $100M in capital, valuing the company at more than half a billion dollars.

The funding will allow Cooler Screens to bring its product to more convenience stores and other retailers. The product: coolers that will serve you tailored ads in real-time.

Earlier this year, Cooler Screens announced that Walgreens will expand its platform into 2,500 stores across the United States. The expansion, which is the largest installation of Cooler Screens’ technology thus far, is expected to reach more than 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 retailers in the grocery and c-store industry, including Kroger and GetGo, to bring a digitally enhanced shopping experience to the cooler aisle.

“Cooler Screens’ platform was founded on the core idea that bringing the power of digital to brick-and-mortar retail has the potential to fundamentally change the consumer experience for the better,” said Nagraj Kashyap, corporate vice president and global head of M12. “We’re thrilled to continue to support and partner with an exceptional leadership team that’s decidedly reimagining the retail product discovery experience.”

Source: https://www.cspdailynews.com/technologyservices/cooler-screens-raises-80-million-funding Oct 14 | In-store Analysis | Innovation | What's Trending
With this technology becoming widely accessible, we're provided with a strong indicator that the collision between digital and brick & mortar channels will continue to rapidly increase (despite COVID resulting in a shift in emphasis to e-commerce).
Ben Ainsworth