- Cloud-based and dynamic display platform Raydiant (formerly known as Mira Technologies) announced it raised $7 million in funding led by 8VC
Raydiant (formerly known as Mira Technologies) — a cloud-based and dynamic display platform for businesses to centrally deploy and manage applications across many screens — announced it raised $7 million in funding led by 8VC. Atomic, Bloomberg Beta, Lerer Hippeau, SV Angel, and Transmedia Capital also joined the round. The digital-screen industry is projected to be $31 billion, according to Grand View Research. And the company also announced it recently named Bobby Marhamat as CEO.
What does Raydiant do? Raydiant is a hardware and subscription service that runs on a simple HDMI device that can be plugged into TVs and gives businesses access to an ecosystem of customer and employee-facing commercial screen applications. And the service just needs an Internet connection to operate and runs on any screen with an HDMI port.
With this round of funding, Raydiant plans to develop additional product features including new apps and enterprise features. And it will be used to grow the team.
“We are thrilled to have so much energy around the company with everything from our new brand, the financial support from our investors and incredible partnerships with the industry’s top enterprise companies,” said Raydiant CEO Bobby Marhamat. “Raydiant is a thriving and growing company, and we are committed to providing businesses with first-class service to bring any screen to life and create an interactive experience within brick & mortar locations.”
Raydiant has created a rich application platform that offers videoconferencing (with BlueJeans), rich drag-and-drop content editing (with PosterMyWall), unified digital menu management (with SinglePlatform), and fully-licensed B2B music (with Soundtrack Your Brand). And these partnerships enable Raydiant to offer a superior enterprise solution for dynamic displays. Raydiant works with thousands of customers and it is focused on multi-location brick and mortar businesses.
“Our investment is a testament to Raydiant’s growth and limitless potential; we’re excited to be with the company on this journey as they accelerate the impressive track record already established,” added Drew Oetting, Founding Partner of 8VC. “The company has strong and growing leadership, the industry’s best partners and thousands of customers… a recipe for success that we are fully behind.”
Tuan A. Ho founded Raydiant in 2017 with the Atomic venture studio. Ho is also known as a co-founder of Philo. And Marhamat was recently brought on as CEO to help scale the company. Previously, Marhamat served as the COO of cloud-based point-of-sale company Revel Systems.