YCD Multimedia Raises New Capital Reflecting Investor Confidence in Business Momentum |
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By: YCD Multimedia Posted: 2009-06-22 05:01:21 |
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YCD Multimedia, provider of smart, in-store digital media solutions to maximize retailer sales and profitability, today announced that it has closed a new financing package totaling $12 million. The financing package includes new equity investment, led by venture capitalists Pitango Venture Capital and Arts Alliance Digital Ventures and conversion of a bridge loan facility.
Rami Kalish, Managing General Partner and Co-Founder of Pitango and Chairman of YCD Multimedia said, "Our continued support and investment in YCD reflects our confidence in their vision for the future of retailing and their solid momentum toward reaching that vision." The company will use the funds to continue to build on its presence in the US and UK markets and to invest in its product roadmap, providing retailers with a turnkey platform to create, manage, distribute and optimize in-store digital media to help drive sales and profitability. "This new investment gives us the capital to support the initiatives we are undertaking with larger chains in the US and internationally," said Barry Salzman, Chief Executive Officer. ABOUT YCD Multimedia: YCD Multimedia enables retailers to realize rapid, measurable returns on investment from in-store digital media. Its end-to-end offering provides professional services and technology to increase profits, optimize product mix and enhance the customer experience. For a decade YCD has led the field in innovation and customized installations for over 1,200 clients on 5 continents. YCD's clients include some of the world's most recognized brands such as American Airlines, Toyota, Kodak, Hilton Hotels, Cartier, Pizza Hut, and Heineken. Founded in 1999, YCD has offices in the United States, United Kingdom and Israel along with an international network of resellers serving clients around the world. |
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