Appetize bags major investment

US startup, Appetize, has raised $20 million in Series B funding, bringing its total funding to $45 million. The round was led by previous investor Shamrock Capital, with participation from Silicon Valley Bank.

Appetize has come up with a PoS platform that uses tablet, cloud and mobile technologies to decrease foodservice and retail transaction times and also provide back-end inventory, reporting and menu management. It will use the funding to drive Stateside growth, onboard large clients and enhance the platform’s retail, restaurant and self-service functionality.

"Our cloud-based PoS solution has been integral in improving the fan experience, and in particular, improving wait times in concession and merchandise lines," says Shamrock Partner Andrew Howard. "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."

"We're replacing legacy competitors at record speed and driving leading initiatives like self-service and mobile ordering to big brands,” comments Appetize co-founder and CEO Max Roper. "This additional investment gives us even more ability to grow and capture significant market share."