At Tech.eu, we frequently cover European companies expanding into new markets. But what happens when a US company enters Europe—and fails? I recently heard from a group of former workers in Lithuania who are facing this very predicament.
When I reached out to folks in the local tech ecosystem in Lithuania, most had no idea of Raydiant's presence there.
Founded in 2017 with a San Francisco HQ, Raydiant is an AI-powered in-location experience management platform trusted by major brands in retail, e-commerce, restaurants, and more. It creates kiosks, virtual agents, and digital signage in retail stores and restaurants to help retail companies create digital, personalised in-store experiences.
It's used by 4,500 brands, including Red Bull, Chick-fil-A, Harvard University, and Wahlburgers. The company has raised $50 million from investors like 8VC, Atomic Ventures, Mark Wahlberg Investments, and Bloomberg Beta.
In 2022, Raydiant opened an office in Vilnius, serving as the company's largest location outside of its San Francisco headquarters.
The Vilnius office housed various departments, including customer success, technical support, marketing, finance, and operations.
As of December 2024, Raydiant Lithuania employed 18 individuals. The company had ambitious plans to expand its Lithuanian team, aiming to onboard 70 new members in 2022 and increase the number to 130 by 2023.
But now, the company has let the bulk of the...
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