The Los Angeles point-of-sale software startup has raised additional funding from 32 Equity, the investment arm of the National Football League’s 32 member clubs. The size of 32 Equity’s investment was not disclosed, but the additional funding closed out Appetize’s Series B at $23 million, and the company has now raised a total of $50 million. Appetize last announced financing in January, when its Series B had reached $20 million and its total funding $45 million.
Appetize offers a next-generation point-of-sale platform that uses tablet, cloud and mobile technologies to decrease foodservice and retail transaction times through a faster, easier-to-use front-end interface, as well as back-end inventory, reporting and menu management. The company now works with hundreds of venues, including Dodgers Stadium, Madison Square Garden, Live Nation and the U.S. Bank Stadium in downtown Minneapolis, where this year’s Super Bowl was held.
“Large enterprises are deploying Appetize at a rapid pace to stay ahead of the curve with cloud-based solutions available on any device,” said Appetize co-founder and CEO Max Roper in a statement. “With the support of 32 Equity, we are positioned to make an even bigger impact in the professional sports industry and beyond.” Founded in 2011, Appetize recently moved into new headquarters in the Los Angeles neighborhood of Playa Vista.
Last year the startup saw 100 percent annual revenue growth and a sales win rate of more than 70 percent. “We’re pleased to support Appetize and their continued growth,” added Kevin LaForce, vice president of 32 Equity.
“Appetize is a leader in modern point-of-sale and ordering solutions and is a key player in the effort to modernize operating systems at sports venues and large merchants globally.” 32 Equity’s other investments include online sports retailer Fanatics, hospitality business On Location Experiences, sports technology provider Stack Sports and virtual-reality outfit STRIVR. Read more from bizjournals.com…
thumbnail courtesy of bizjournals.com