Provider of Automated Retail Technology for Self-Service Kiosks and Vending Machines Partners with Samsung to enable Biometric Payments
Today, PopCom (formerly Solutions Vending) announced that it has secured over one million dollars in funding from NCT Ventures, Jumpstart Focus Fund, Rev1 Ventures, TechStars, Backstage Capital, Canopy Boulder and others. Based in Columbus, Ohio, and a graduate of the TechStars and Canopy Accelerators, PopCom is an automated retail technology company that provides software solutions for kiosks and intelligent vending.
The interactive kiosks market size is expected to grow to more than $73 billion by 2020, according to a recent study. As consumer shopping behaviors have evolved, many companies are rethinking selling strategies and choosing to offer products via self-service kiosk and vending machines. And while more than 60 percent of shoppers say they prefer self-service tools like digital kiosks, only seven percent of today’s vending machines are ‘intelligent,’ meaning most don’t offer wifi connectivity, cannot accept credit card payments and inventory cannot be monitored remotely. Moreover, traditional machines don’t track and monitor machine traffic or conversion rates.
“The explosion of this market signals a major transformation for how consumers shop and interact with brands today, so it is critical that brands offer their products where the consumers want them, but also integrate technologies that help them leverage these touchpoints to glean the best insights,” said Dawn Dickson, CEO of PoCom. “By making smart vending machines even smarter, PopCom is enabling brands to become more intune with consumers and their needs, while also providing a better experience for shoppers.”
PopCom’s solutions combine with point of sale data to generate customer demographic information, while also helping vendors monitor inventory, capture sales data and helping brands leverage insights for lead generation and retarget advertising. The solution can easily integrate into new vending machines and existing machines can be retrofitted to enhance their capabilities. PopCom is also announcing a strategic partnership with Samsung that will integrate biometric payments with one of the world’s largest kiosk manufacturers.
“We are thrilled to support this innovative company – with a seasoned entrepreneur at the helm and an approach that meets a critical need, we see big things on the horizon for PopCom,” said Tom Walker, CEO of Rev1 Ventures. “Tracking consumer engagement can often be a moving target for brands and with the burgeoning smart vending machine market, we recognize the value PopCom provides and the vast base they are serving.”
PopCom will be featured in Eureka Park at the Consumer Electronics Show in Las Vegas on January 9-12.