Adding Appetize will help SpotOn, which is focused on providing software and management tools to small and medium-size restaurants and retailers, further expand its reach.
Appetize is already being serviced in 65% of sports and entertainment venues like L.A.'s Dodger Stadium and Honda Center in Anaheim, home to the Anaheim Ducks. Their platform includes point of sale devices, self-service kiosks, handheld devices, online ordering, that offer tap or scan payment options, including Apple Pay, Google Pay which allows fans to order from the comfort of their seat.
Max Roper, CEO of Appetize will continue running the business, but will take on the role of president of SpotOn Enterprise. "We are super excited about being able to service the end to end market from the coffee shop all the way up to the super bowl stadium level," Roper stated.
The combined companies will have over 1,600 employees, 350 from Appetize and 1,300 from SpotOn and is expected to grow with this acquisition.
Appetize will retain their offices in Los Angeles and employees will continue their roles under the SpotOn Enterprise.
All transactions at each venue are still handled by SpotOn Enterprise, which includes point of sale, kiosk, mobile ordering, and inventory.
"For us, the goal is to provide the best product to the clients we service today and to future clients we will have in the future. The unique thing is being able to service top to bottom and the middle market, no one is able to service that 10-100 store chain," Roper stated.
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The software lets them see where their images are shared and the amount of social media engagement. And it last month inked a deal with Getty Images that gives athletes and other users access to Getty photos.
Teams like the Los Angeles Dodgers have tapped the app to create a virtual celebration when the pandemic prevented them from celebrating their 2020 World Series with fans.
The company was founded in 2014 by Daniel Kirschner alongside Green, a 14-year MLB veteran, who realized that the way sports teams needed a central hub.
The platform is targeted toward large organizations who manage lots of photo and video content taken from fans and others. Its customers include high-profile sports organizations and political campaigns, including Joe Biden's 2020 run for president.
Greenfly helps those organizations share content with individual influencers, who often work with multiple brands.
"Most of the content never sees the light of day," said Kirschner. "A majority of that content is incredibly valuable and relevant for people in the network. And so just to get it into the hands of the athletes themselves for example so they can share or broadcast partners or sponsors is super valuable."
Paul, now a point guard for the Phoenix Suns, joined Greenfly as a sponsor and partner during Greenfly's strategic growth round after using the platform to manage his on- and off-the-court social media presence, the company announced Tuesday.
Other investors include Verance Capital, Higher Ground Labs, DD Venture Capital, SW19 Ventures, LinkinFirm and Allievo Capital as well as participation from previous investors Go4it Capital, Elysian Park Ventures, Alpha Edison and Iconica Partners.
"Greenfly is one of the most recognizable names among athletes," Paul said in the announcement, "but its application and impact extends far beyond the court or field."
Paul, who spent six seasons playing for the Los Angeles Clippers, has a track record as an active investor. He has backed companies including the Los Angeles-based sports NFT marketplace Dibbs and New York-based agro-tech startup Bowery Farming.
Greenfly has over 500 client organizations and more than 44,000 users. Users can access Greenfly through its desktop and mobile apps. Pricing is determined by how many users are within the customer's network.
Kirschner declined to comment on Greenfly's revenue figures, but said the company is experiencing "strong growth."
Kirschner said Greenfly is hoping to make the most out of its relationship with Paul, who is also the president of the NBA Players Association and a State Farm spokesperson.
"He's just an incredibly engaged and thoughtful person and somebody who doesn't just want to write a check, he really wants to bring what he brings to bear, which is like his insight, his perspective, his relationships," Kirschner said. "And so it's just a really special opportunity for us to team up."