News

Popspots raises $5M to fund smart displays

December 17, 2019

Popspots, a retail technology company, has raised $5 million in a funding round led by Silverton Partners. The company plans to use these funds to reach the grocery industry with its Grocery TV smart displays, according to a press release.

The smart displays, provide advertisements to grocery checkout aisles and merchandizing services to boost sales and monitor shelves for missing or out-of-stock items, according to the release.

"Out-of-stock products cost retailers billions each year, so we created a product that not only reduces losses, but also encourages sales at the checkout," Marlow Nickell, co-founder and CEO, Popspots, said in the release. "We chose that location because every customer visits the checkout and spends more time there than any other area of the store."

The company also offers a web platform so brands and retailers can see how well their advertisements are performing.

"We're impressed by the growth Popspots has achieved both with brands and retailers so far. Our team is excited to be their partner, and support them as they continue to scale," Roger Chen, principal at Silverton Partners, said in the release.