The close of a Series A round of funding and follow on Series B Convertible Note by VisibleBrands has raised US$4.6 million for the company. The funds would be used for cloud based digital promotions in-store network.
According to Timothy Morton, CEO and co-founder of Visible Brands, "We are thrilled that many early investors are also participating in our Series B round. But we're even more thrilled by what people are saying about us and where the marketplace is headed. Just a few weeks ago, Steve Frenda, managing director - Strategy and Development, at the Path to Purchase Institute said, 'VisibleBrands is about unlocking the shelf as a media channel - It's unlike anything else we've seen and it has the potential to be a game-changer.' And then VentureBeat noted that 'Indoor location will be the next billion dollar market.' Well, they're right. We're already there using the latest indoor location technology to deliver customized digital offers right to the shelf where shoppers vote with their feet. And our system is driving consumer preference."
The company's digitally enable offers require no downloading, no clipping, no mobile phone and no opt ins or registrations. People would shop and can get a digital coupon from an in-aisle screen where the offer is 'clipped to cloud' using cloud technology that is wireless and location based, creating savings automatically credited at checkout.
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