Appetize, a California-based point-of-sale (POS) technology company, has raised $20m in a Series B funding round led by Shamrock Capital Advisors.
The funding round, which takes the total capital raised by the firm till date to over $45m, was also joined by Silicon Valley Bank.
The firm plans to use the capital to drive its growth across the nation, take in large clients, and improve its retail, restaurant, and self-service capabilities.
Shamrock Capital partner Andrew Howard said: “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.”
Appetize was set up in 2011 by Max Roper, Kevin Anderson and Jason Pratts, and now employs over 200 staff. The firm’s technology has been used by enterprise businesses including arenas, stadiums, convention centres, theme parks, campuses, and chain stores.
“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. 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,” Roper noted.