Appetize, a US-based point-of-sale (POS) technology developer backed by marketing firm R/GA, has added 32 Equity, which is owned by the National Football League (NFL)’s 32 member franchises, to its shareholders.
The company has now raised more than $50m in total funding, putting the commitment by 32 Equity at approximately $10m, based on previous disclosures adding up to slightly more than $40m in funding.
Appetize has developed a cloud-based POS platform that enables retailers, venues and restaurants to process payments, and includes features such as real-time inventory management, online ordering, self-serving kiosks and analytics.
The system can also be utilised without being connected to the internet, facilitating its usage during large events, or in sports stadiums where networks can be congested.
The company has accumulated thousands of clients including stadiums across the four major sports leagues in the US – football, hockey, baseball and basketball – it said, and will use the funding to drive further growth.
Appetize received $20m in a January 2018 series B round led by private equity firm Shamrock Capital Advisors, with participation from Silicon Valley Bank.
Shamrock had already led a $20m series A round for the company in 2016 that also featured sports business services provider Oak View Group and a range of unnamed backers.
Appetize secured $20,000 in 2015 when it took part in the sports and entertainment accelerator operated by baseball franchise the Los Angeles Dodgers and R/GA, a division of advertising group Interpublic.