It also allows the retailers to inject more advertising opportunities into their stores to bolster revenues. That will give the company immense data to help plan future inventory and marketing promotions, he added. "Walgreens single-handedly will have nearly 70-to-80 million consumers interacting with Cooler Screens on a monthly basis," Avakian told Business Insider. And with the Walgreens deal, for example, Avakian says brands will regularly be able to reach a Super Bowl-size audience on the startup's displays. Investors this round included Verizon Ventures, M12, Great Point Ventures, and Silicon Valley Bank.Ĭooler Screens is working with retailers including Kroger and GetGo.
Cooler screens series#
It just raised over $80 million in Series C funding, according to an announcement on Monday, hiking its valuation to above $500 million. Cooler Screens, the startup providing the technology, is currently in 60 stores and is closing a number of successful pilot projects with other customers, according to CEO Arsen Avakian. And that's creating new opportunities for companies like Walgreens to invest in digital capabilities to better serve customers - and ultimately boost sales.įor example, the drug store is set to roll-out new, internet-enabled digital advertising screens in the freezer section of 2,500 stores in 2021. Now several months into the pandemic, the demand remains robust. Sign up here to receive updates on all things Innovation Inc.Īt the start of the coronavirus pandemic, consumers rushed out to retailers to stock-up on the essential items.
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