Exclusive: Grubbrr grabs GetNoble in live event play
Restaurant technology company Grubbrr has acquired GetNoble, a digital commerce and marketing platform for on-site events, for $5 million, CEO Sam Zietz tells Axios exclusively.
Why it matters: As restaurants and venues face a labor crunch and mounting costs, digital tools that help them run as efficiently as possible are garnering interest and investment.
Details: The deal was financed through a mix of cash and stock, Zietz says.
Driving the news: The acquisition will bolster Grubbrr’s online ordering capabilities and help the company tap the live event and venue space.
- Those spaces are often heavily regulated because self-ordering kiosks need to ensure the patron is 21 to purchase alcohol no matter what state they’re in, Zietz says.
- GetNoble has sorted that out with regulators in these kinds of venues, he adds.
How it works: Noble allows guests to order and pay for food and drinks at venues, stadiums and live events.
- Guests can pay for bar and concession items via a native app, web link or QR code or text.
- They can also schedule orders ahead of arrival or at intermission or halftime, for instance, so they don’t miss on the action.
- Noble has partnered with more than 120 venues, including the Mohegan Sun Arena, Indiana Farmers Coliseum and the Chevalier Theatre.
Catch up quick: Boca Raton, Florida-based Grubbrr, which provides self-ordering technology and point-of-sale systems for mostly quick service and fast casual restaurants, received $35 million from Aon as part of an IP-backed lending deal, Axios reported in April.
- The company is hoping the acquisition will help it become a more holistic offering for its clients, adding alcohol sales and other functionality it doesn’t have in its systems yet, he says.
What’s next: He said the company is looking to expand into convenience stores, especially as many do more than sell groceries and gas, offering gourmet coffees and restaurant experiences.
- Grubbrr is also looking to expand into the retail category and education, such as in K-12 and higher education cafeterias and food courts.
- “We're coming at it from a food perspective, and then expanding the feature set,” he says.