Raydiant Funding Promises More to Come for Customers28 January 2021
Dear Raydiant Customers, Employees and Partners,
Our 2021 is off to a great start at Raydiant! We are happy to announce that we recently acquired $13 million in Series A financing. The funding was co-led by 8VC and Atomic, and backed by actor and businessman Mark Wahlberg, along with investment and venture capital firms Delta Zulu (managed by Dave Shull of Poly), Gaingels, and Lerer Hippeau. We’d like to thank all our investors, who share our goal of supporting brick and mortars and workspaces of all kinds. We’d also like to thank our hardworking team at Raydiant, who’ve risen to the challenge in these trying times by developing products and services that drive sales for our in-location customers and allow our workplace customers to build stronger work cultures.
What does this additional funding mean for Raydiant customers?
More Tools That Build Connection and Drive Revenue
The need for building connections—with customers, employees, and even vendors—has never been higher. Companies are increasingly turning to technology to bridge the gap between the online and offline experience, keeping customers engaged with their brand and employees engaged with their work, their teams, and their company as a whole. Raydiant’s additional financing will be invested in product development, enabling us to expand our product line to deliver even more personalized, interactive digital experiences.
To date, Raydiant customers already see a 12% average revenue increase, but that’s not the only ROI they enjoy. Our brick-and-mortar customers report an increase in foot traffic, more repeat customers, and better brand recognition and visibility. The companies that use our workplace tools for their remote and hybrid teams report better collaboration, higher productivity, and a stronger connection within their remote teams. So we’re enthused to be able to offer both customer bases more tools to help them not only to survive, but thrive, in this world, both during COVID and post-pandemic.
More Partnerships to Improve the Customer and Employee Experience
Last year, Raydiant joined in some exciting partnerships that make the Raydiant Experience Platform that much more multidimensional. Our partnership with music video-creator XITE allows our retailer, restaurant, and other brick-and-mortar customers to draw in and engage more customers with curated music videos from the latest and favorite artists. We also joined forces with Hoopla, an app integration for workplaces that motivates employees, tracks KPIs and stats, and automates all your important data for easy management. Our T-Mobile partnership made us the only LTE-powered digital signage platform on the market, allowing us to offer reliable internet connectivity without relying on Wi-Fi.
For retailers, restaurants, and other businesses that serve the public, our new Kiosk self-service technology was released, giving them the ability to offer contactless services personalized to their clientele. And recently, Microsoft and Raydiant partnered for the successful launch of our SecondScreen solution, a revolutionary tool for the remote workforce that allows for virtual communication and collaboration in an all-in-one system separate from an employee’s main workstation.
What exciting new partnerships do we have planned for 2021? Stay tuned!
More Ways to Meet the Demands of Today’s Customers
In our State of Consumer Behavior Report for 2021, we found that, despite COVID, many customers still prefer to shop in person rather than online. They like the overall experience of being in a physical store, and enjoy seeing and feeling the products as they browse. Many of the same customers said they are more likely to shop in physical locations now and in the future, which means as business owners, you need to be ready to offer an impeccable in-location experience to stay relevant. In fact, 59% of customers said they care more about their customer experience than ever before. More and more, customers want (no, demand) seamless, convenient interactions with brands—including a personalized customer experience and exemplary customer service. Raydiant already meets these demands with a platform that allows for customization of its digital experience, along with face-to-face, real-time video chat and contactless Kiosk services. We will continue to improve our platform by delivering more functionality to help our brick-and-mortar customers stay competitive.
Here’s to a Great 2021!
To our investors: Thank you for sharing in our vision for creating more unique customer experiences and stronger, more connected virtual workspaces. To the Raydiant team: thank you for your commitment and resilience in developing innovative products that meet the needs of these unprecedented times. And to our customers: Thank you for your support, and we can’t wait for you to see what new developments we’re working on for 2021!
Here’s to an exciting 2021, and to all who’ve helped us get here!
CEO of Raydiant