San Diego’s EMN8 Raises $14.4M For Self-Service Sales Kiosks
San Diego-based EMN8, which develops self-service, touchscreen displays and systems for use in fast-food restaurants, theaters, theme parks, and other retailers, has ordered up more than $14.4 million in venture funding, according to a recent filing with government regulators.
The venture-backed company says it has raised all but $179,550 of a secondary round that began in January and aimed to raise about $14.6 million. EMN8 identifies Sid R. Bass Associates, GRP Partners, and Fort Washington Capital as investors on its website. Former Enterprise Partners VC partner Ron Taylor and Allegis Capital’s Spencer Tall are members of EMN8′s board.
Telephone calls to CEO Perse Faily at EMN8′s San Diego office went unanswered this afternoon. The startup specializes in point-of-transaction kiosks that feature animated software and graphics for placing and paying for orders. The company says its customers include the Carl’s Jr. and Jack in the Box restaurant chains, and Walt Disney World.
In an interview with a trade publication last year, Faily said, “Our mission at EMN8 is to deliver a compelling guest experience, improved guest satisfaction, and increased profit margins for our customers.”
Last August, EMN8 and New York-based IBM announced an agreement to jointly manufacture, market, and support EMN8′s self-service order and pay kiosks. As part of the deal, EMN8 said it would move production of certain kiosk hardware to IBM, calling its “OrderM8 4000″ equipment the “kiosk design of choice” for quick-service restaurant operators. The partners also plan to develop future generations of kiosk products.
While similar technology has existed in banking in the form of ATMs, point-of-sale terminals have only become prevalent in recent years in such places as movie theaters, and at airline ticket counters where kiosks dispense boarding passes.
The fast-food industry, which began installing such kiosks about five years ago, represents a huge market for companies like EMN8. In the interview last year, CEO Faily says restaurant self-service technology has evolved into an integrated program that involves operations, marketing, and IT. EMN8 specializes in technology that includes the user interface, data and media storage, core software, point-of-sale interface, electronic payment interface, device drivers, hardware, network capabilities, and manager’s console.