Tablet, Cloud-Based POS Company Lands Private Equity Investment to Replace Legacy POS Systems at Sports and Entertainment, Professional, and Education Businesses
LOS ANGELES, CA (December 20, 2016) – Appetize, the next-generation Point of Sale (POS) platform, announced today that it has raised over $20 million in funding led by Los Angeles-based private equity fund, Shamrock Capital Advisors. Tim Leiweke and Irving Azoff’s Oak View Group participated in the round, along with follow-on capital from several current investors. Shamrock Partners Andy Howard and Alan Resnikoff join Appetize’s board and Tim Leiweke joins as a board observer.
“Point of purchase as it relates to overall guest experience is a pivotal area of focus for our industry and Appetize represents a powerful force of innovation in the space,” added Tim Leiweke, OVG Founder and CEO. “This is the future of our industry and Appetize is way ahead of the game. Their platform creates impactful business efficiencies for facility operators while also giving the fans an elevated and far more convenient way of making purchases during their favorite live events.”
Appetize will use the funds to expand its team of POS and payment industry veterans to over 150 employees in Los Angeles, New York and Atlanta by mid-2017. The company’s focus is multi-site enterprise clients including entertainment venues, convention centers, business dining and university campuses, theme parks, travel and leisure, among others.
“We are thrilled to be announcing this infusion of capital from top tier private equity firm and strategic partners, Shamrock Capital and Oak View Group,” said Kevin Anderson, Co-Founder of Appetize. “Appetize has already proven itself as a leader in the Sports and Entertainment vertical and beyond with notable deployments at Live Nation, the world’s largest foodservice companies, iconic venues like Madison Square Garden, and over 400 additional venues. 2017 is going to be another exciting year of exponential growth and innovation.”
“Appetize has deployed over 17,000 units and processed over $1 billion in transaction in 2016 alone,” described Max Roper, Co-Founder and CEO of Appetize. “We have built Appetize with the enterprise client and scalability in mind, and now with this partnership of Shamrock Capital and Oak View Group, Appetize is positioned extremely well for continued, long-term success.”
“We see Appetize’s combination of explosive growth, differentiated enterprise platform and market leadership as a strong indication of what the future holds for the POS sector,” said Andy Howard, Partner of Shamrock Capital. “We are thoroughly impressed with the entire Appetize team as they have built the most robust POS platform for enterprise businesses, enabling their clients to see an immediate ROI by giving them real-time access to data and analytics to make game-day decisions.”
Headquartered in Playa Vista, CA, Appetize offers the most robust product set in the POS world, combining dual-platform (Android and iOS) fixed POS, self-serve kiosks, handheld POS, online and mobile ordering, and a robust backend inventory and reporting management tool. The Appetize platform enable a faster, easier to use interface, which has revolutionized how POS is deployed and used and has increased revenues significantly for clients as compared to legacy POS systems — all while providing 99.999% uptime in 2016.
For more information on Appetize, please click here – www.getappetize.com.
Appetize, the Los Angeles-based Point of Sale company, is serving its modern ordering and payment technology to over 400 enterprises today. Appetize is a fast growing and disruptive technology company that is steadily replacing legacy point of sale systems in the sports and entertainment, education, and professional industries. Appetize redefines the ordering and payment process through its POS, handheld, kiosk, and inventory products for operators, as well as its mobile ordering platform for fans. For more information, visit www.getappetize.com.
About Shamrock Capital Advisors:
Shamrock Capital Advisors, LLC is a Los Angeles-based alternative investment firm with approximately $1.8 billion of assets under management investing exclusively in the media, entertainment, and communications sectors. Shamrock partners with strong management teams and takes an active, collaborative approach to creating value in each investment. Shamrock’s current investments include Consilio, FanDuel, Giant Creative/Strategy, Isolation Network, Mobilitie, Questex, Recorded Books, Screenvision Media, Silvergate Media and Wazee Digital. For more information, visit www.shamrockcap.com.
About Oak View Group:
Oak View Group (OVG) is global advisory, development and investment company for the sports and live entertainment industries. Based in Los Angeles, OVG is helmed by its CEO Tim Leiweke and backed by Azoff MSG Entertainment. OVG comprises of a sponsorship/partnership company called Narrative, a venture fund/equity division and an Arena Alliance. The Arena Alliance is designed to serve a select group of leading facilities with access to unprecedented scale and resources through sponsorship optimization, untapped revenue streams, insights and access to premier sports and live entertainment content. For more information, visit www.oakviewgroup.com.
Kevin Anderson, Appetize
Andy Howard, Shamrock
Robbie McKay, Oak View Group