June 22, 2009
One of the fastest growing digital media providers, YCD Multimedia announced today that it has closed $12 million in funds from Pitango Ventures and Alliance Digital Ventures. This new funding package also includes an equity investment.
YCD Multimedia is a smart in-store digital media provider that allows retailers to generate better sales and profitability.
According to Rami Kalish, who is both the managing partner and cofounder of Pitango Ventures as well as the chairman of YCD Multimedia; Pitango’s continued support and investment of YCD Multimedia shows that the partners at Pitango Ventures has confidence in YCD’s vision of the future of retail and the solid momentum that YCD Multimedia has is also attractive.
Proceeds of this round of funding will be used by YCD to continue to build its presence in both the United States and the United Kingdom. This funding will also help YCD invest in its product roadmap and also allow retailers to have a turnkey platform to generate the in-store digital media to drive sales of their products.
As far as Barry Salzman, CEO of YCD Multimedia, is concerned, this investment provides YCD the necessary capital to support the initiatives that the company is undertaking together with retail chains in the United States and worldwide.
For more information about YCD Multimedia, click here.