Appetize, the point of sale platform used by sports venues nationwide, announced Tuesday it has raised more than $20 million in funding led by private equity firm Shamrock Capital Advisors and Oak View Group.
Appetize will use the funds to expand its team to over 150 employees in Los Angeles, New York and Atlanta by mid-2017.
“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,” Appetize Chief Strategy Officer Kevin Anderson said in a statement. “2017 is going to be another exciting year of exponential growth and innovation.”
Get The Latest Sports Tech News In Your Inbox!
Appetize has deployed more than 17,000 units and processed more than $1 billion in transactions in 2016, according to CEO and co-founder Max Roper.
“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,” said OVG founder and CEO Tim Leiweke, who joins as an Appetize board observer. “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.”
Oak View Group, which in part is comprised of its Arena Alliance that connects 22 venues as partners, also has lead an investment in SportTechie.