LOS ANGELES, Jan. 22, 2021 /PRNewswire/ -- Ari Stiegler,
managing partner of Flux Capital, announced this week that his firm
has backed Noble, an innovative, mobile concession ordering
platform poised to revolutionize the way patrons order food and
drink at restaurants, bars, stadiums and other similar venues in
the post-COVID world.
Noble's omni-channel platform offers significant benefits to
consumers and venues alike across apps, web, text, and other
integrations. Its cashless online ordering platform—currently
available at 200 venues across the country—allows customers to
purchase food, drinks and even merchandise from the comfort of
their phones, ensuring they spend less time standing in line and
more time enjoying their time out.
By reducing long-lines typical at venues, Noble drives more
traffic to businesses, captures missed sales, augments customer
spending and improves guest ratings. Beyond that, Noble provides a
consistent, trusted experience for consumers to use across a
variety of locations, which solves adoption issues venues face. Its
purpose-built platform covers the operational complexities of
high-volume environments and even solves for the difficult
regulatory dynamics of the on-premises alcohol sales industry.
"Lengthy lines at venues aren't just a nuisance, they're an
impediment to business with a direct effect on the bottom line,"
said Stiegler. "Customers are 40 percent more likely to purchase
food—and 60 percent more likely to spend more than they had
initially intended—when queues are eliminated. Noble's unique
platform achieves this goal, getting food and beverages more
quickly to customers and increasing returns for
businesses."
As a winner-take-all platform, Noble conforms closely to Flux
Capital's core investment tenets.
"Noble's universal platform—compatible not just with one single
venue, but with tens of thousands around the country—has a built-in
first-mover advantage that will quickly expand its market share,"
Stiegler said.
Stiegler's announcement comes as the
United States has begun to roll-out one of the largest
vaccination campaigns in history, offering hope that venues large
and small will re-open in full during the first half of 2021. Noble
has brokered relationships with venues across the country and
global groups like Mohegan Sun Casino & Resort during the
pandemic and is situated to make an immediate impact as
stay-at-home orders are lifted.
"After more than a year of various degrees of quarantine,
Americans are more ready than ever to visit their favorite venues,"
Stiegler said. "Noble will help businesses translate this immense
demand into greater profits and allow Americans to spend more time
enjoying the moment, and less time standing in long lines for
concessions."
"We look at our investors as more than capital, but a strategic
advantage to our business," said Matt
Draper, co-founder at Noble. "To date we have gained
investment from proven funds like Ben Franklin Tech Partners and
industry experts like Jonathan
Mariner, former CFO of Major League Baseball. Ari and the
Flux Capital network provide another example of expanding our
advantage as we continue to scale the company in an exciting 2021
ahead."
About Ari Stiegler:
Ari Stiegler is the Managing Partner
of Flux Capital and a three-time startup co-founder, including
TutorMe, LVL, and PhoneTag. To date, he has directed over
$160m in transactions primarily while
managing US investments for a private family office. Ari was the
founding CEO of TutorMe, a leading online tutoring platform
acquired by Zovio in 2019. He graduated from the University of Southern California with a degree in
Business Administration.
Ryan Painter
Senior Associate
MillerInk
3105718264
inquiries@fluxcapital.co
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SOURCE Flux Capital