November 14, 2015
Shelfbucks, the leading in-store smart display and smart shelf marketing platform for retail stores and brands, recently announced that it has closed its series A funding by raising $6.5 million. The funding will be used to facilitate large-scale rollouts of its platform and to speed up the company's overall long-term growth. The funding was led by a group of strategic industry investors.
The Austin-based company allows shoppers to interact with products, displays and store shelves from their smartphones via iBeacon, BLE and Bluetooth smart beacons. The funding will be utilized to drive the expansion of its platform for leading grocery, drug, mass, specialty retailers and consumer packaged goods (CPG) brand companies as well as to increase the company's capacity for large-scale, enterprise rollouts and support.
"Shelfbucks has been on a steady growth track based on market demand for our platform to deliver a better shopping experience for consumers while enabling retailers and CPG companies to measure and improve the performance of their in-store marketing campaigns," said Erik McMillan, CEO of Shelfbucks, in the press release. "This latest round of funding will help accelerate our growth, as well as enhance the scale and speed of our production, installation and support processes for leading retailers and brands," he said.
According to the company’s press release, shoppers browsing an in-store product area interact using their smartphones to immediately access promotional offers, ratings, reviews and other relevant product content. Shelfbucks also provides retailers and brands with unprecedented digital measurement of in-store merchandising execution and shopper behavior.
Mr. McMillan added that Shelfbucks was recently selected from hundreds of applicants to participate in Mondelēz International's "Shopper Futures" program, the company's initiative that pairs Mondelēz International power brands with retailers and startups to create innovative solutions for retailers. Shelfbucks, in partnership with leading point-of-purchase (POP) display provider Menasha, will create smart displays for Mondelēz International's Oreo brand within stores across the US.
The company previously raised $2.25 million from individuals such as former Bazaarvoice Founder and former CEO Brett Hurt, HomeAway Co-founder Carl Shepherd and Joshua Baer, Founder of technology incubator Capital Factory.
Shelfbucks is the leading in-store smart shelf and smart display platform. Brands and retailers already execute brilliant in-store marketing; however, there is an opportunity to take it to the next level by leveraging digital capabilities to measure and improve success. Were programs executed? Can you identify successful programs and areas for improvement? Can mobile media at the point of purchase grow baskets and increase conversion? Shelfbucks enables retailers and brands to activate, engage and convert in-store shoppers by measuring real-time in-store shopper demand and delivering personalized special offers, coupons and expert content to shoppers' iPhone or Android smartphones. Shelfbucks helps retailers and brands build a loyal relationship with in-store shoppers while increasing category sales, profit and return visits. For more information, click here.