Austin startup Bypass, which sells sports venue software, has acquired a Philadelphia company that develops food and beverage ordering apps.
Austin-based Bypass said Parametric will expand its product line of mobile transaction software and add operational and sales talent to its team.
Financial terms of the deal were not disclosed.
Founded in 2010 by Austin entrepreneur Brandon Lloyd, Bypass helps major sports and entertainment venues make sales using mobile systems. The company's software enables vendors including concessions, merchandisers, dessert carts and hawkers to accept payments on tablets.
Bypass launched at its first site, Dell Diamond in Round Rock, in 2010 and now operates in dozens of sports and entertainment venues. Its 130 customers include the San Antonio Spurs, the Chicago White Sox, the University of Texas' Erwin Center and Fox Theater in Atlanta.
Accepting payments by tablet rather than the traditional point-of-sale method moves lines faster, increases sales and cuts costs, Lloyd says.
Bypass' software also tracks sales and inventory and analyzes customer behavior and buying trends.
The company's competitors include industry giants Oracle Corp. and NCR Corp.
"There's a lot of change going on in the commerce space right now, and we believe there's really an opportunity to reinvent the space," Lloyd said. "We think our technology is more relevant than what's on the market today, and Parametric puts us in an even stronger position."
Parametric, founded in 2012, develops tablet software used by professional and college sports teams at stadiums. The company's products allow fans in premium seats and suites to place mobile orders and pay at self-serve kiosks.
Its technology is used at National Basketball Association, Major League Baseball and National Hockey League venues.
Eight-person Parametric has raised $2.1 million. Parametric founder Geoff Johnson will relocate to Austin and the other employees will remain in Philadelphia.
Bypass has raised about $11.5 million from a number of high profile investors including San Antonio billionaire Red McCombs, Don Sanders, co-owner with Nolan Ryan of Ryan-Sanders Baseball, Casey Wasserman, CEO of Wasserman Media Group, a Los Angeles-based sports and entertainment agency and Capital Sports and Entertainment.
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