Vibenomics Partners with Another Grocery Retailer
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Indianapolis-based Vibenomics has inked a multi-year partnership with Iowa-based supermarket chain Hy-Vee Inc. Vibenomics says the deal will bring its Audio Out-of-Home advertising platform to more than 400 stores throughout the Midwest.
Vibenomics has developed a platform that combines licensed, background music playlists and commercial spots paid for by brand advertisers, who can target specific customers based on data provided through the platform.
The platform, according to the company, enables ad buyers to strategically target customers at the point of purchase.
“We’re thrilled to continue building our retail media presence by partnering with Hy-Vee, an innovative grocer who sees the potential of monetizing their audio with Vibenomics,” Brent Oakley, chief executive officer of Vibenomics, said in a news release. “As a company, we’re evangelizing AOOH’s value and partnering with retailers like Hy-Vee to incorporate media capable of creating memorable shopping experiences.”
Financial terms of the deal were not disclosed.
The announcement comes less than a month after Hy-Vee announced plans to expand into multiple states, including Indiana, with the goal of adding 21 stores over the next few years.
Last October, Vibenomics closed on a $6.5 million Series A2 round of funding. Three months prior, the company announced a similar partnership with Kroger Co. (NYSE: KR), which has added its AOOH platform to more than 2,500 locations across the country.
We’ll have more on the partnership from Brent Oakley in Wednesday’s Morning Briefing e-newsletter.