DALLAS — IndoorDIRECT has announced that it has secured a funding package that could reach $22.5 million to complete the rollout of its in-store entertainment network into 1,000 quick-service and fast-casual restaurants from its current base of 430 locations.
The funding was led by Syncom Venture Partners, a firm that specializes in media properties. Joining them were Northwood Ventures LLC and Poseidon Enterprises LLC, which also have considerable media expertise. Challenger Capital Group LTD and Haynes & Boone LLP assisted in the transaction.
The funding will allow indoorDIRECT to establish an initial national media platform of more than 10 million viewers per month in top DMAs.
"Our network is an effective way for advertisers to reach consumers for many reasons," said Bill Myers, co-founder and COO. "We entertain our viewers with engaging content that people enjoy watching and listening to while they are sitting, not just walking past the screens. This enables impressions to really register with viewers who are in most cases close to retail sites where they can immediately act on the messages presented to them."
