Knoxville-based WOW3D closes its Series A round
(EDITOR’S NOTE: The following release was provided by WOW3D Group, LLC. Doug Yoakley, co-founder of Pershing Yoakley & Associates which sponsors teknovation.biz, is quoted in the release. There is also an article about 3D digital signage that quotes WOW3D Group’s Steve Newman at http://www.digitalsignagetoday.com/article/201173/Exceptional-3D-digital-signage-hits-600-location-mark?rc_id=465)
WOW3D Group LLC, a digital out of home media network focused on the convenience store market, announced today that it has closed a Series A round of investment. The round was oversubscribed and funded by Knoxville based angel investors who are participating in The East Tennessee Capital Network, a program of the East Tennessee Regional Accelerator Coalition.
WOW3D Group has an exclusive license to 3D screen technology that delivers three dimensional images without requiring glasses via the internet over standard video screens. In addition to this equity financing, WOW3D Group has leveraged debt financing to build out a network of 115 convenience stores (“The Convenience Network”) in the Knoxville and Nashville markets, with a view towards Atlanta and Cincinnati as well as national markets through affiliation. Steve Newman, a veteran of eight media startup companies including Knoxville based EonStreams that was venture backed and sold to VitalStream, has joined the company as President and CEO.
“We are excited to be working with a strong set of experienced investors as we move forward with our growth plans for The Convenience Network. Our 3D technology delivers high quality images without glasses and grabs consumer’s attention providing sales lift ranging from 15% to 25% in the convenience store. There is a significant shift ongoing in the advertising market. We are able to deliver powerful messages at the point of purchase where consumers are ready to buy”, Newman stated.
Doug Yoakley of Pershing Yoakley and Associates, has been involved with the company since its initial formation. “We are pleased to be closing our Series A financing round with our local investors. This funding combined with our team will enable us to drive forward with our growth plans and make a significant impact on our affiliates businesses.”
Consumers currently spend 45% of their time viewing media through the internet and via mobile devices with only 17% of advertisers spent in these venues. The convenience store market grew over 7% in 2011 despite the ongoing recession. The Convenience Network from WOW3D Group is uniquely positioned to take advantage of this.
For more information: www.wow3dgroup.com or call Geoff Robson (865) 300-3095 or Doug Yoakley (865) 673-0844.