Appetize scoops up $20m for venue POS systems

Los Angeles-based point of sale (POS) platform Appetize has raised more than $20m in a funding round led by private equity firm Shamrock Capital Advisors.

Investment also came from Oak View Group investors Tim Leiweke and Irving Azoff.

Appetize offers a POS system to for live events and sports as well as education and professional industries.

The company claims it serves 400 enterprises and venues with its POS software, hardware offered through partners and consumer-focused mobile payments solution.

Leiweke said, “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.

“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 co-founder and CEO Max Roper said, “Appetize has deployed over 17,000 units and processed over $1 billion in transaction in 2016 alone.

“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.”

The firm says it will use the capital to expand its teams across LA, New York and Atlanta to 150 employees.

It says it will focus on multi-site enterprise clients including entertainment venues, convention centres, business dining and university campuses, theme parks, travel and leisure, among others.

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