Welcome!

Mobile IoT Authors: Yeshim Deniz, Elizabeth White, Zakia Bouachraoui, Pat Romanski, Carmen Gonzalez

News Feed Item

VendScreen Continues Strong Momentum, Company Growth in 2014

VendScreen, a provider of touchscreen payment technology, announced significant momentum in its growth for 2014. Founded in Portland, Ore., in 2011, VendScreen is a turnkey, affordable hardware and software solution that retrofits self-service retail machines to deliver a unique and engaging end-user experience, driving incremental revenue and improving functional efficiencies for vending operators. VendScreen’s touchscreen technology wirelessly connects vending machines to a cloud-based computing platform that enables cashless transactions, and delivers nutrition information, on-screen promotions, and instant help features, including credit codes for refunds. Recent achievements include:

Recapitalizing the company

In January, the company closed on a major financing round. The financing was led by two of the Portland company’s existing investors, 3X5 Special Opportunity Fund and Merrickhanna Ventures. It will be used to deliver innovative new features and to accelerate market share growth for its 3G vending platform technology.

Optimizing the technology

VendScreen continues to add innovative new feature functionality to its scalable cloud-based platform, including contextual on-screen advertising, instant credit code refunds and an operator portal management suite.

Growing the company

Over the last six months, VendScreen has experienced significant growth in all major business categories. The company’s customer base has grown over 250 percent from the same period last year. Sales have increased over 50 percent in the last 90 days alone and over 92 percent of all customers are reordering more devices and adding new locations.

Building strategic alliances

  • July: VendScreen partnered with USConnect, a consortium of industry-leading independent food service companies that provide state-of-the-art technology and programs to their corporate food service clients. USConnect affiliates will now receive group rates on VendScreen touchscreen devices. Affiliates are also eligible for management, monitoring and wireless services at fixed monthly prices, decreased cashless processing costs and select device pricing.
  • June: VendScreen entered into a marketing alliance with Unified Strategies Group Inc., one of the largest U.S. purchasing cooperatives which services independently owned vending companies. Members can now obtain VendScreen’s touchscreen products and services at group rates. VendScreen and USG will work together to market future services to members such as loyalty offers, couponing, on-screen promotions and contextual advertising.
  • June: VendScreen entered into a long-term pilot with several of the largest Pepsi bottlers in the U.S. in order to collect critical sales lift data and other metrics for a broad scale roll-out of a Pepsi bottlers program later this year.
  • May: VendScreen added Verizon Wireless as an available cellular carrier for its retrofit 3G devices installed on vending machines across the country. Previously, all VendScreen devices exclusively accessed the Sprint cellular network.
  • April: VendScreen announced the successful installation of payment touchscreens on more than 1,000 current machines managed by Evergreen Vending located in Tumwater, Wash.

In March, VendScreen introduced a seasoned executive team who would focus on delivering reliable and innovative products and services to the company’s current and future vending operator customers. The company enlisted David Grano as president and CEO. Grano joined VendScreen from APTUS Financial, a leading provider of ATM management solutions, and brings more than 20 years of successful experience building and running financial and payment technology companies. Also added were John Archer, COO, who has more than 25 years of engineering and operations experience in telecom computing, including RadiSys Corporation and Intel; Chuck Treister, vice president of sales, a vending industry veteran who spent the past 10 years running U.S. Vending Management, LLC.; Matthew Buhler, EVP of business development, a 20-year self-service payments veteran; and Jody Wagner, VP of business operations, who brings nearly 30 years of technology operations experience.

“We are focusing 100 percent of our energy on the success of our customers,” said Grano. “Our business model is built on being an agent in our customers’ growth, now and in the future.”

About VendScreen Inc.

Based in Portland Ore., and a graduate of the Wieden + Kennedy Portland Incubator Experiment, VendScreen, Inc. is the industry’s leading manufacturer of retrofit touchscreen devices for vending machines. VendScreen devices are powered by a proprietary cloud-based computing platform that enables cashless transactions, dynamic product and nutrition information, on-screen promotions, and centralized remote monitoring. For more information, please visi, www.facebook.com/VendScreen, or follow us on Twitter at @VendScreen.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
Never mind that we might not know what the future holds for cryptocurrencies and how much values will fluctuate or even how the process of mining a coin could cost as much as the value of the coin itself - cryptocurrency mining is a hot industry and shows no signs of slowing down. However, energy consumption to mine cryptocurrency is one of the biggest issues facing this industry. Burning huge amounts of electricity isn't incidental to cryptocurrency, it's basically embedded in the core of "mini...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Japan DX Pavilion at @CloudEXPO Silicon Valley
The graph represents a network of 1,329 Twitter users whose recent tweets contained "#DevOps", or who were replied to or mentioned in those tweets, taken from a data set limited to a maximum of 18,000 tweets. The network was obtained from Twitter on Thursday, 10 January 2019 at 23:50 UTC. The tweets in the network were tweeted over the 7-hour, 6-minute period from Thursday, 10 January 2019 at 16:29 UTC to Thursday, 10 January 2019 at 23:36 UTC. Additional tweets that were mentioned in this...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Where many organizations get into trouble, however, is that they try to have a broad and deep knowledge in each of these areas. This is a huge blow to an organization's productivity. By automating or outsourcing some of these pieces, such as databases, infrastructure, and networks, your team can instead focus on development, testing, and deployment. Further, organizations that focus their attention on these areas can eventually move to a test-driven development structure that condenses several l...
The term "digital transformation" (DX) is being used by everyone for just about any company initiative that involves technology, the web, ecommerce, software, or even customer experience. While the term has certainly turned into a buzzword with a lot of hype, the transition to a more connected, digital world is real and comes with real challenges. In his opening keynote, Four Essentials To Become DX Hero Status Now, Jonathan Hoppe, Co-Founder and CTO of Total Uptime Technologies, shared that ...
Over the course of two days, in addition to insightful conversations and presentations delving into the industry's current pressing challenges, there was considerable buzz about digital transformation and how it is enabling global enterprises to accelerate business growth. Blockchain has been a term that people hear but don't quite understand. The most common myths about blockchain include the assumption that it is private, or that there is only one blockchain, and the idea that blockchain is...