It’s been an exciting week at Appetize! We’ve just secured $20 million in Series B Funding, bringing our total funding to date over $45 million. With this new funding comes new opportunities; from expanding our company across the globe to on-boarding large clients to enhancing our retail, restaurant, and self-service functionality.
This round of funding was led by Shamrock Capital Advisors, with additional financing provided by Silicon Valley Bank. “Our additional investment will be used to further enhance the Appetize technology platform, enabling venue operators to have increased data and analytics capabilities as well as inventory controls which has consistently proven to drive significant revenue uplift,” said Shamrock Partner, Andrew Howard, in a statement.
We’re thrilled at how far we’ve come since our start in 2011, and even just looking back at this past year. In 2017, we saw 100 percent annual revenue growth and a greater than 70 percent sales win rate. This new round of funding showcases the strides we’ve made to get here and the possibilities that lie ahead.
“Since inception, Appetize has focused on bringing a combination of innovative and reliable POS products to the enterprise customer first, and the results validate that focus,” said Max Roper, our Co-Founder and CEO. “We’re replacing legacy competitors at record speed and driving leading initiatives like self-service and mobile ordering to big brands. This additional investment gives us even more ability to grow and capture significant market share.”
With the announcement, comes a ton of great feedback and coverage from media outlets across the web and all over social media. Check out a few key highlights from the press:
BizJournals : Appetize now has more than 200 employees and has moved into new headquarters in the Los Angeles neighborhood of Playa Vista…
FINSMES : Appetize provides a dual platform (Android and iOS) product suite which includes fixed POS, handheld POS, self-serve kiosk, mobile and online ordering, as well as back of house enterprise management and reporting, to enterprise businesses like arenas, stadiums, convention centers, theme parks, campuses, and chain stores.
A huge thank you to our investors for their continued support! We can’t wait for what’s next.