Modiv Media secures additional funding

Modiv Media announced today that it has closed $8 million in additional funding.

The company, which has offices in Quincy, specializes in what it calls retail interactive media delivery solutions.

One recent project involves the Modiv Shopper, a "scan-and-bag" handheld device that features targeted ads and offers; the device is deployed at about 100 Stop & Shop supermarkets, Modiv Media said.

As for the funding round, it includes participation from current investors Ignition Partners, Oak Investment Partners, and SeaPoint Ventures, Modiv Media said.

Modiv Media said it will use the new financing to accelerate its technology development, expand its retail footprint, increase its professional service offerings, and accommodate a growing staff.
(By Chris Reidy, Globe staff)