FanFood raises US$2m in Series A to transform concession operations
FanFood, a concession sales management software startup, recently raised US$2m in Series A from Phoenix Sports Partners to accelerate its expansion this year.
FanFood eliminates chaos around concession stands at stadiums and live events through flexible mobile ordering and express pick-up and/or in-seat delivery.
By enabling concessionaires to conduct efficient, secure cashless transactions, FanFood is able to increase concession profits and deliver the best fan experience. The company’s technology is able to:
- Reduce costs associated with security and manpower involved in cash transactions
- Greatly reduce wait times at the register
- Increase revenue with a higher sales volume and real-time price adjustments
Over the last two years, FanFood has secured partnerships with MLS San Jose Earthquakes, Formula 1 Grand Prix at Circuit of Americas; Division 1 Colleges including University of North Carolina and Purdue University; Minor League Baseball properties including Iowa Cubs and Durham Bulls; high schools, golf courses, and concerts all across the U.S.
Carson Goodale, CEO and co-founder of FanFood, said:
With this round, one of our key priorities is bringing tech in-house as much as possible. The company is ready to introduce the technology platform to more stadiums soon.
Technology improvement will be a top priority of the company, which just hired Chicago tech veteran, Jeremy Nicikowski as CTO, who previously served at Peapod, Uptake and Grubhub. The company is also looking to hire a senior engineer.
In 2019, FanFood plans to integrate with POS partners and increase fan segmentation, while adding the feature of in-venue wayfinding and offering the product for suites/corporations.
The announcement by Mercedes-Benz Stadium to go cashless heralds imminent technological changes within the sports industry. Efficient concession operations will drastically enhance the fan experience, while bringing stadiums higher revenue. FanFood is excited to be at the forefront while the sports industry transitions into the digital age.