Cloud-based point of sale inventory and analytics company Appetize announced new funding from 32 Equity, the NFL’s investment arm, on Thursday. That money brings Appetize’s total funding to more than $50 million.
Launched in 2011, Appetize helps clients in shift away from traditional POS solutions to a cloud-based, mobile-friendly platform. The company has deployed thousands of enterprise level solutions to date, including at 10 NFL stadiums and at 45 percent of the major sports venues across the United States. The Appetize system features an offline mode that allows vendors to have seamless transactions even in areas with highly congested networks, like stadiums.
“Appetize is a leader in modern point of sale and ordering solutions and is a key player in the effort to modernize operating systems at sports venues and large merchants globally,” said Kevin LaForce, VP of 32 Equity, in a statement.
32 Equity was launched in April 2013 and is jointly owned and by all 32 NFL franchises. The entity’s primary objective is to find investment opportunities to help grow football both domestically and internationally, while assisting in initiatives like improving fan experience and creating compelling content. 32 Equity has invested in several companies including Appetize, Blue Star Sports, Fanatics, On Location Experience, Stack Sports, and STRIVR.
Max Roper, Co-founder and Chief Executive Officer at Appetize emphasized the significance of securing an investment from 32 Equity. “With the support of 32 Equity, we are positioned to make an even bigger impact in the professional sports industry and beyond,” he said.