CapX Partners Leads New Financing of Ziosk® Tablets
CapX Partners announces the closing of a loan facility that can grow to $100 million to support the growth needs of Ziosk. Ziosk is the creator of the restaurant industry’s first ordering, entertainment and pay-at-the-table tablet and commands 95% of the deployed market. The funds will be used to support agreements with Olive Garden and other restaurant brands to deploy Ziosk tablets across the U.S.
Ziosk is the clear cut industry leader serving more than 25 restaurant concepts across all 50 states. When the Olive Garden deployment is complete, over 150,000 tablets in 3,000 locations will be interacting with more than 50 million guests per month, demonstrating the continued momentum of Ziosk in the restaurant industry.
Olive Garden is the leading Italian restaurant brand in the casual dining segment with more than 840 restaurants and 96,000 employees and more than $3.8 billion in annual sales. Olive Garden is a division of Darden Restaurants, Inc., which owns and operates more than 1,500 restaurants that generate over $6.8 billion in annual sales.
"Ziosk was seeking a strategic financial partner to assist in the expansion of its network," said Eric Starr, CapX Partner. "Ziosk Chairman and Co-Founder Jack Baum and his team have created a fantastic platform for Olive Garden’s patrons. We are excited, along with our funding partners Garrison Investment Group and Victory Park Capital to provide support for Ziosk’s current and future restaurant partnerships."
Ziosk provides a technology platform for the restaurant industry. The flagship product is the Ziosk tabletop tablet that enhances the dining experience for several audiences. It gives guests more control over payment, entertainment and information. Ziosk also helps restaurants improve their service, digital relationship with their guests, operational efficiency and profits. The Ziosk benefits servers by increasing their tips and gives sponsors a unique and valuable way to reach their audiences.
"We are thrilled to have CapX supporting Ziosk and our restaurant partners, and this financing further supports our mission to revolutionize pay-at-the-table solutions at restaurants. We are honored to have their confidence, commitment and support as we grow and look forward to a valuable partnership," stated Jack Baum.
About Ziosk
Based in Dallas, Ziosk is the creator of the first entertainment, ordering and pay-at-the-table tablet for the restaurant market. The industry leader commanding 95 percent of the installed tabletop tablet market, Ziosk has deployed more than 150,000 Ziosk® tablets in over 2,500 restaurants across all 50 states. The Ziosk® technology is an enterprise grade solution, featuring a 7-inch tablet and encrypted credit card reader, resides on each table and enables guests to see menu items, play games, view entertainment, order food and beverages and ‘pay on demand;’ all which gives guests control over their dining experience. With its interactive capabilities, Ziosk and its footprint have created the Ziosk Media Network™, a digital media platform for partners to create engaging experiences at the point of purchase. With over 400 million consumers served and growing, Ziosk is revolutionizing the experience and economics of dining. For more information, please visit www.ziosk.com. Ziosk is the owner of the Ziosk®, Ziosk Media Network™ and zTrivia™ family of marks and logos.
As a Partner with CapX Partners, Eric is responsible for developing technology-enabled solutions to drive scale and operational efficiency. His areas of focus include origination, underwriting, portfolio management, and finance. As a business developer, Eric's industry emphasis is on healthcare, energy, technology, and manufacturing.
Prior to joining CapX in 2008, Eric worked as a hedge fund manager and was a member of the risk committee at Forest Investment Management. Previous to...