Mobile Ordering Company Rivalry Tech Closes $3.5M Raise Following Industry Expansion

HOUSTON, Nov. 7, 2022 /PRNewswire/ -- Rivalry Tech, a SaaS startup that has developed mobile ordering platforms that modernize fulfillment operations for high volume venues, has raised $3.5M. The raise closed after Rivalry Tech expanded its scope with the launch of their myEATz platform early this year. CEO Aaron Knape says much of the funding will be put toward building out Rivalry Tech's myEATz platform expansion into healthcare, leisure, and business dining. With the focus on improving the customer experience and bringing Rivalry Tech's technology to 24/7/365 facilities through myEATz, funds will be used to increase personnel and support at Rivalry Tech..

Led by Sightcast, Houston-based venture capital group, with participation from Softeq Venture Studio and a host of other investors, such as the Rice University's Valhalla Investment Group, some of the funds will continue to support Rivalry Tech's ongoing sports and entertainment platform, sEATz. Neal Simpson, Managing Partner of Sightcast Capital Partners believes in the product and the team..

"Sightcast Capital Partners looks to invest in strong, founder-led companies that bring a forward-thinking solution to everyday problems. In Rivalry Tech, we saw a team that recognized an opportunity to streamline the way in which food and beverage transactions occur in the healthcare, leisure, sports, and entertainment markets. Their two-sided approach of using technology as a tool to increase vendor profitability and also positively influence consumer experience is what immediately attracted us to this opportunity."

Taking notice of the growth was Softeq Venture Studio. Softeq specializes in custom hardware and software development which aligns perfectly with Rivalry Tech's myEATz expansion. Knape shared..

"As we begin scaling our customer base, Softeq was the perfect choice as both an investment and development partner. With their focus on innovation combined with their extensive experience in enterprise software and hardware, we believe they can strategically elevate us to the next level."

Co-Founder Marshall Law had the idea to create sEATz after a homerun went over his seats at a 2017 Astros World Series game while he waited in a concessions line. Reflecting back, Law has enjoyed growing his idea into a scaling company with Knape..

"It is exciting to see our success in sports and entertainment translate into opportunities in other industries. People want the best mobile ordering experience no matter where they are. That is exactly what we provide!"

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SOURCE Rivalry Tech