Zoom Systems, which participated in the inaugural ANZA Gateway to the US back in 2002, has closed a $20 million Series E financing round from Sierra Ventures, Goldman Sachs Group, Inc., NeoCarta Ventures, Motorola Ventures, the strategic venture capital arm of Motorola, and Starfish Ventures. The funds will be used to expand the Zoom Systems automated retail channel domestically and internationally.
According to AMonline.com:
Zoom Systems has established a network of automated retail stores, called ZoomShops, that offer a unique shopping experience; the convenience of online shopping coupled with the consumer gratification of immediate product delivery. ZoomShops automate all the capabilities of a retail channel, allowing brand and location partners to differentiate themselves with an enhanced consumer experience.
All ZoomShops are centrally networked and monitored and provide brands the most efficient way to grow their revenue and profits, resulting in the highest sales-per-square-foot average in the retail environment. Zoom Systems partners with brands including Apple iPod, Sony, Proactiv Solution, Best Buy, Macy’s and Rosetta Stone to place ZoomShops in high-traffic locations such as airports, shopping centers, and retail. There are currently over 800 ZoomShops throughout the U.S. and Japan.
Gower Smith, founder and CEO of Zoom Systems, said in a prepared statement: “We are continuing to deliver results for our customers, even in this challenging economic environment. The continued support from all our institutional investors is a testament to the strength of the Zoom Systems’ business. We now have the capital to control our destiny and focus on operational excellence.”
Read the full AMonline story here, and the Venture Beat report here.
