Looma, a leading provider of in-store digital media, announced that it has raised approximately $10 million from a group of family offices, YETI Capital, and current investors. Looma will use the funding to expand its platform with new and existing retail partners and extend its product offering.
A series of rollouts slated for this year and next year will deepen Looma’s penetration within the adult beverage category and expand its platform into all major areas of the grocery store. These rollouts will grow Looma’s install base from approximately 800 screens in 2023 to over 5,000 screens by the end of 2024.
In connection with the funding round, Margot Fooshee, former marketing executive from J. Crew and Beautycounter, joined Looma’s board of directors.
Looma is currently deployed in 675 stores across the East Coast, Midwest, and Texas, including retailers like H-E-B, Harris Teeter, Lowes Foods, and multiple other undisclosed retailers.
KEY QUOTES:
“This capital enables us to grow a truly end-to-end, enterprise-grade in-store digital media platform. We’re grateful to have the continued support from our existing investors and thrilled to welcome YETI Capital and our other new investors.”
-Cole Johnson, Looma’s Founder & CEO
“We are fired up about partnering with the Looma team. They’ve built and honed the leading digital media platform over the past 8+ years, delivering meaningful performance enhancement to retail and brand partners over that time, and the company is primed to continue expansion with more national retailers & brands.”
-Maxx Karr, Partner at YETI Capital
