ZoomSystems has closed a $20M Series E financing round from Sierra Ventures, Goldman Sachs Group Inc., NeoCarta Ventures, Motorola Ventures and Starfish Ventures.
The company says the money will be used to expand domestically and internationally. ZoomSystems partners with brands including Apple iPod, Sony, Proactiv Solution, Best Buy, Macy’s and Rosetta Stone in its automated retailers called ZoomShops, which offers instant gratification to customers.
“We are continuing to deliver results for our customers, even in this challenging economic environment,” says Gower Smith, founder and CEO of ZoomSystems. “The continued support from all our institutional investors is a testament to the strength of the ZoomSystems’ business. We now have the capital to control our destiny and focus on operational excellence.”
Jeff Loomans, partner at Sierra Ventures, says his company is happy to continue working with the ZoomSystems team.
“We are extremely pleased with ZoomSystems’ continued rapid growth and clear leadership position in the new space of automated retail,” he says.