New York City-based digital kiosk maker Vengo has raised $2 million in Series A funding. Investors included Jens Molbak, founder of Coinstar, Queensbridge Venture Partners, Kensington Capital, Vegas Tech Fund, Scout Capital and Vector Media.
New York, NY – April 7, 2014
Vengo, the leading maker of compact, interactive, digital kiosks, closed a $2 million Series A financing round from an investor group that includes Coinstar Founder Jens Molbak, Brad Feld, Nas & Anthony Saleh’s QueensBridge Venture Partners, Joanne Wilson, Kensington Capital, Tony Hsieh’s Vegas Tech Fund, Scout Capital and Vector Media.
The funding will go toward scaling Vengo’s NYC digital interactive platform of sixty Vengos which currently drives 280,000 active consumer engagements each month. Vengos can be found at premium locations including NYU, ProHealth, Raven, Fueled Collective and the IPG Media Lab running point-of-purchase digital campaigns for innovative brands such as Uber and Mondelez International. Vengos have also popped up at influential cultural events such as SXSW in the Hype Hotel and Pictoplasma.
Investor Joanne Wilson added, “Vengo is changing the way that brands interact and engage with consumers and providing a smarter alternative for research and sampling. Vengo is already influencing consumer consumption patterns in New York City.”
Vengo recently partnered with CC Vending, one of the largest NY vending machine operators, to handle logistics and fulfillment and add a high-tech complement to CC Vending’s thousands of NY locations.
Broadening Vengo’s reach will provide media and retail partners with unique access to where consumers live, work and play.
$720,000 of the financing was sourced through the rapidly growing funding platform SeedInvest.
About Vengo Labs
Vengo is a connected device startup in New York City. The company got its start when the NYC Economic Development Corporation named Vengo “NYC Next Idea 2012.”
The Vengo platform combines interactive and immersive digital media with point-of-purchase. Vengo’s locations put brands’ messages in the right place to reach high value consumers, while Vengo’s functionality facilitates the delivery of a message in a fun, interactive and immediately gratifying style that complements traditional media campaigns. Behind the scenes, Vengo’s team of aerospace engineers is turning each tap of the screen into a quantifiable, data-driven science to improve brand reach and deliver superior ROI for media partners.