By Alisha Goldberg, RTN staff writer - 4.24.2024
Dripos, a software platform designed specifically for coffee shops, has secured an $11 million Series A funding round led by Base10 Partners. This funding is part of a broader effort by Dripos to expand its operations and enhance its offerings, bringing its total raised capital to $17.3 million. The platform integrates various operational tools into a single solution, including point-of-sale systems, mobile payments, employee management, payroll, loyalty programs, marketing automation, and administrative functions such as accounting and banking.
The investment comes at a time when Dripos has reported significant growth, with a 400% increase in the number of locations now using its platform. This expansion has extended Dripos’ reach across 46 states, processing hundreds of millions of dollars in annual payments. The platform’s comprehensive nature and focus on the specific needs of coffee shops have made it a preferred choice for many in the industry.
Jack Pawlik, Co-founder and Co-CEO of Dripos, highlights . Dripos aims to alleviate the challenges coffee shop owners face with multiple software solutions and streamlining these operations by offering a consolidated platform that addresses all operational needs. This approach has resonated with many coffee shop operators.
The leadership team at Dripos, including Co-CEOs Jack Pawlik and Avery Durrant, brings over eight years of experience in building food tech startups, with prior ventures supported by Y Combinator. The company also enjoys backing from a notable group of angel investors such as Michael Siebel of Y Combinator, Shyam Rao, founder of Punchh, and Ian Crosby, former Head of Fintech at Shopify.
With the new funding, Dripos reportedly plans to further develop its platform, expand its customer base, and continue providing tools that support coffee shop owners in a competitive market. The company, founded in 2019 and based in New York, positions itself as a comprehensive business solution for the coffee shop industry, aiming to simplify and optimize daily operations through technology.
