Boulder Startup Building Craft Brewery POS Systems Raises $5M
One Boulder-based startup working behind the scenes with breweries recently announced a $5 million funding round as it continues to support the growing craft ecosystem.
Colorado’s craft breweries rely on more than just staff, hops and water to power their tap rooms.
One Boulder-based startup working behind the scenes with breweries recently announced a $5 million funding round as it continues to support the growing craft ecosystem.
Arryved is a point-of-sale system designed specifically to alleviate the plights of craft breweries.
“Being in a dynamic environment, everything is free flowing. That’s typically how things are in a brewery,” CEO David Norman said in an interview with Colorado Inno.
The mobile platform allows craft brewery servers and bartenders to easily manage customer tabs, monitor keg depletion, place flight orders and much more.
Arryved recently announced a $5 million Series A funding round, led by Foundry Group, that will help the company grow its product, team and client list.
Despite the startup’s success, Norman said the POS system wasn’t the company’s initial idea. The Arryved team initially built an ‘order at the table’ application that was a few weeks away from launch, when they decided to pivot.
“They said we don’t really like our POS, it was always a weak point,” Norman said craft brewery owners and employees told him just before the launch. “There wasn’t a POS that works directly on the craft brewing space.”
So, in early 2016, the team of ex-Google employees pivoted and began developing Arryved’s craft-focused POS system.
A few months later, they launched the first iteration of the platform to three local clients, including Boulder’s Avery Brewing.
In early 2017, they launched the full platform and began selling it nationwide. The company’s POS system is currently being used in over 200 taprooms across 36 states.
In addition to Arryved’s craft-focused ordering system, the platform integrates analytics to allow breweries to track a host of metrics, including individual menu item performance, based on time of day.
Arryved currently has 18 employees and is looking to hire, with jobs in development and sales currently listed on the website.
Norman said this funding will allow Arryved to further its marketing efforts, moving from a grassroots effort to a more-coordinated approach.
The company also hopes to expand its reach in the craft scene, offering POS services to craft cideries and craft distilleries, in addition to breweries.
“We hope to be able to shape consumer behavior and shape a different way to do hospitality and service,” Norman said.