Mark Wahlberg Advises and Invests in Digital Signage Start Up Raydiant

According to Crunchbase, digital signage startup Raydiant has raised $13 million in a Series A round from investors including actor Mark Wahlberg.  It’s through Wahlburgers, the burger chain owned by the Wahlberg family, that Mark Wahlberg became involved as an investor and adviser to Raydiant. He discovered the company when he was looking for a way to interact with customers at the burger chain’s different locations, he said.

“I initially started as an advisor and decided to invest as Raydiant’s mission is to help brick and mortar operators do more business and connect with their customers,” Wahlberg said in an email to Crunchbase News.

Raydiant was founded in 2017 to create connected experiences for brick-and-mortar businesses using cloud-based digital signage technology. By plugging a Raydiant ScreenRay into an HDMI-equipped TV, businesses can create messages for in-store customers ranging from check-in procedures, sales and promotions to live video support, photos and social media feeds.

Raydiant’s customers include Wahlberg’s restaurant chain Wahlburgers, Harvard University, T-Mobile, Rockford Fosgate, First Bank, Clark’s Pest Control, The Hanover Company, Orkin, The Salvation Army, Pita Pit and Werqwise.

Raydiant says it more than tripled its revenue and grew its customer base by 60 percent last year, adding that the COVID-19 pandemic has prompted more brick-and-mortar stores and restaurants to use its digital signage technology to communicate with customers about takeout options, adjusted hours and social-distancing protocols.

The new capital, which brings the company’s total funding to $20 million, will be used for product development and expanding Raydiant’s go-to-market team. New service offerings will focus on bridging the gap between offline and online experiences and increasing productivity. Additional backers include Bloomberg Beta, Transmedia Capital and Ron Conway.