Kirkland, Wash. – VisibleBrands has raised approximately $2.3 million through a Series B financing to support a regional expansion of its patented in-store digital couponing platform. In preparation for the company’s regional expansion, VisibleBrands promoted Tim Belvin to CEO, succeeding founding CEO Tim Morton.
The new funding follows a year-long VisibleBrands field test in Spokane, Wash., showing that average coupon redemption was approximately twice industry norms and typical brand lift was a five-time average sell-through as total brand sales benefited from exposure at the moment of decision. VisibleBrands’ enabled digital offers require no clipping, downloading, mobile phone, or registration or opting-in. People shop as usual and with a single touch of an in-aisle screen, can accept a digital coupon. The offer is digitally clipped to the grocery cart using location-based, wireless and cloud technologies, and the savings are credited automatically at checkout.
“We are still tinkering with some of the variables and believe we can deliver even stronger results during the next regional rollout phase,” said Belvin.