In-Store Media Firm Looma Expanding Beyond BevAlc
In-store digital media provider Looma raised around $10 million from a group of family offices, Yeti Capital and current investors. Looma will use the funds to expand its platform with new and existing retail partners and extend its point-of-decision offerings.
Looma has a series of rollouts slated for the remainder of 2024 and throughout 2025 to deepen its penetration within the adult beverage (BevAlc) category and expand its at-shelf network of screens, Loop, into “all major areas of the grocery store,” the company revealed in a statement. These rollouts will grow Looma's install base from approximately 800 screens in 2023 to over 5,000 screens by the end of 2024.
The expanded platform will feature a blend of three screen types (pictured below): Looma's existing "high-value space screens," along with two new screen types, "in-aisle interactives" and "atmospheric screens."
[Also Read: ‘The Store Is Now a Stage’: The Emergence of In-Store Retail Media]
In connection with the fundraising round, Margot Fooshee, former marketing executive from J.Crew and Beautycounter, joined Looma's board of directors.
"This capital enables us to grow a truly end-to-end, enterprise-grade in-store digital media platform," Cole Johnson, Looma's founder & CEO, said in the statement. "We're grateful to have the continued support from our existing investors and thrilled to welcome Yeti Capital and our other new investors."
"We are fired up about partnering with the Looma team," Maxx Karr, partner at Yeti Capital, added. "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 and brands."
Looma is currently deployed in 675 stores across the East Coast, Midwest and Texas, including retailers such as H-E-B, Harris Teeter, Lowes Foods and multiple other undisclosed retailers. All content that airs on Looma's network is produced or edited by Relay, the company’s global network of independent filmmakers, editors and other creators who specialize in point-of-decision content.
Yeti Capital is the venture capital firm behind Yeti, Nutrabolt, C4 Energy and other brands.