The startup Cooler Screens that installs digital displays in-store cooler corridors announced on 5th October 2020 that it had raised US$80 m in its Series C funding. This latest funding round came from Verizon Ventures, Great Point Ventures, M12 Venture fund of Microsoft, Silicon Valley Bank, and a few others.
The foundation of the company
The startup, led by its co-founder and CEO Arsen Avakian has bagged more than US$ 100m in funding till now. Arsen Avakian was previously the founder and CEO of Agro Tech. Before initiating Argo, he had worked in a bunch of technological companies. As he says, the simple idea of replacing glass doors might sound unimportant or annoying, but he believes in winning the hearts of customers at first. People spend a lot of time inspecting the products they buy online, but when it comes to brick and mortar experience, people can hardly find any information for that. And Cooler Screens is focused on changing that scenario.
The first retail partner of Cooler Screens was Walgreens. The number of brands advertising on their platform has grown since March from 40 to around 150. Soon after they installed 50 cooler screens in Walgreens stores in the Chicago area, they announced plans to expand their plans to 2,500 Walgreens stores around the United States. GetGo and Kroger are other partners who have joined Cooler Screens. They aim at 100m customers per month in the nearby future!
About Cooler Screens
Cooler Screens is a Chicago based enterprise that aims at changing the sale media domain. The company was founded in 2017 by Arsen Avakian. It has grown rapidly since its establishment and gained tremendous support from various retail, consumer product, technology, and retail-based companies. More than 20 brands have joined the startup; these have Nestle, PepsiCo, MillerCoors, Tyson, Red Bull, and Unilever on the list. Microsoft, BOE, Verizon, Foxconn are some of the technology partners. It has successful campaigns in major cities San Francisco, New York, Chicago, and Seattle.
About the Verizon Ventures
Verizon Ventures is an investment firm that believes in backing startups that drive innovations to their profile. The Northeastern US-based startup was founded in 1990 by Terry Evans Jr and Richard Ferrer. Verizon Ventures has invested in 40 plus companies till now, covering several technologies, industries, and segments. It supports its portfolio companies with product development, sales, market planning, technology, and giving access to the platforms and networks that come under Verizon Communications.
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