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Dripos Secures $11M Series A Funding to Revolutionize Coffee Shop OperationsAll-in-one platform dedicated to coffee raises from Base10 Partners to expand footprint. NEW YORK, April 24, 2024 /PRNewswire/ -- Dripos, a comprehensive software platform built specifically for coffee shops, is thrilled to announce its $11 million Series A funding round, led by Base10. This investment will fuel Dripos' continued mission to transform the way coffee shops operate.
Dripos has emerged as a game-changer for its customers, whose adoption has led to the company's recent exponential growth. In 2023 alone, the number of locations relying on Dripos increased 400%, solidifying its presence in coffee shops across 46 states nationwide and processing hundreds of millions in annual payments. By seamlessly integrating specialized tools for point-of-sale (POS) and mobile payments, employee management and payroll, loyalty and marketing automation, as well as comprehensive administrative functions like accounting and banking, Dripos has become the go-to solution for coffee shop owners seeking a unified and efficient platform to boost operational productivity. "Coffee shop owners have long grappled with the challenge of juggling 5-10 software solutions to meet their operational needs," said Jack Pawlik, Co-founder & Co-CEO of Dripos. "With Dripos, we're empowering coffee shops to ditch their previous tech stack for the first true all-in-one solution, revolutionizing the way they do business." The focus on a coffee shop's workflow and the all-in-one nature of the product has resonated deeply with Dripos' customer base who feel their needs were being ignored by existing providers. Manny Caral, owner and operator of Revolucion Coffee + Juice with 5 locatons in Texas, recently switched his locations to Dripos. "Instead of using Toast or Square as a POS, 7Shifts for scheduling, ADP for payroll, Otter for 3rd party order management, and many other tools we are able to achieve this and even much more through Dripos. The product has allowed us to streamline our day to day operations and give us time back to focus more on our customer experience," said Manny. Dripos' impressive traction and growth trajectory are a testament to its product obsessed team and visionary leadership. The company's co-founders boast over eight years of experience in building food tech startups, with multiple ventures backed by Y Combinator. Additionally, Dripos has garnered support from an esteemed group of angel investors, including Michael Siebel of Y Combinator, Shyam Rao (founder of Punchh, acquired for $500+ million by Partech), and Ian Crosby (founder of Bench and Teal, and former Head of Fintech at Shopify), among others. "We invest in Automation for the Real Economy and it doesn't get more 'Real Economy' than coffee shops and the small business owners who power them," said Caroline Broder, Principal at Base10 Partners, who led the Series A and will be joining the Dripos board. "Dripos provides a business-in-a-box platform for its customers, allowing coffee shops to focus less on the expense of running basic operations, and focus more on delivering an exceptional experience for its customers and employees with every order." About Dripos Dripos is the only piece of software a coffee shop needs to operate their business. The platform offers specialized point-of-sale (POS) and mobile payments, employee management and payroll, loyalty and marketing automation, as well as comprehensive administrative functions like accounting and banking, and has become the go-to solution for coffee shop owners seeking a unified operational platform. Founded by Jack Pawlik and Avery Durrant, Dripos is a New York based company. Connect via dripos.com About Base10 Partners Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund investing in founders who believe purpose is key to profits and in companies that are automating sectors of the Real Economy. This includes heavily investing in Business-in-a-Box companies, which employ a multi-product strategy to consolidate core business operations in one platform that is purpose-built for a particular Real Economy end vertical or sector. Through its program the Advancement Initiative, Base10 donates 50% of profits to underfunded colleges and universities to support financial aid and other key initiatives. Portfolio companies include Notion, Figma, Nubank, Stripe, Popmenu, WeTravel, and MoeGo. Connect via base10.vc
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