Entrepreneurial family office and growth equity firm Greater Sum Ventures (GSV) announced a majority investment in MyVenue, a worldwide leader in event venue point-of-sale (POS) technology.
What MyVenue does: MyVenue’s fast and intuitive solution processes billions of dollars in credit card sales annually at some of the world’s most iconic and culturally significant sports and entertainment venues. Terms of the transaction were not disclosed.
Created for venues selling food, beverages, memorabilia, and merchandise, MyVenue’s POS solution unlocks operational efficiencies and sales growth via a seamless ordering experience. And the cloud-based technology is utilized by stadiums, arenas, and hospitality venues across North America, the United Kingdom, and the Asia-Pacific region, including Dodger Stadium, Little Caesars Arena, Hard Rock Stadium, and the Los Angeles Memorial Coliseum, host venue of the 2028 Olympics.
MyVenue’s solution includes hardware-agnostic POS, queue-busting technology like mobile ordering, self-service kiosk, and in-seat POS, an online suite catering portal, and an innovative back office with real-time dashboards, reports, and inventory management.
What the funding will be used for: The funding provides MyVenue additional capital and specialized resources to accelerate global growth and R&D initiatives. The company, launched in 2020, will continue to be led by CEO and founder Tim Stollznow and MyVenue’s deeply experienced executive team.
Advisor: TI Partners acted as the exclusive financial advisor to MyVenue.
KEY QUOTES:
“We’re impressed with MyVenue’s fast, scalable point-of-sale technology that’s improved guest experiences and helped venue operators maximize their sales revenue. With significant commercial momentum and a strong financial profile, MyVenue has exciting growth opportunities ahead.”
Ross Croley, CEO and founder of GSV
“As sports teams and event venues seek to enhance all facets of operations and profitability, MyVenue is delivering powerful solutions that provide greater versatility. This investment amplifies our ability to meet the market’s growing needs through advanced technology and support capabilities. We’re excited by GSV’s confidence and partnership as we extend our next-generation products to more venues globally.”
Tim Stollznow, CEO of MyVenue
“Tim is a respected entrepreneur who’s built startups into leading global brands. He’s created a recipe for success through a visionary and adaptive leadership style, and we look forward to working alongside him and his team to fuel the next stage of growth for MyVenue.”
Bill Nix, co-founder and managing partner of GSV
