Innovative self-serve beverage systems market leader to advance development of next generation technology
iPourIt, Inc., an innovative provider of self-serve beverage systems, is pleased to announce the completion of an oversubscribed Series B financing round. The round was led by existing shareholders, Tech Coast Angels of Orange County, and also included significant investments from three of iPourIt’s key customer groups.
“We are excited about this latest investment led by Tech Coast Angels,” said Carl Mostert, CEO of iPourIt, Inc. “The investment is a great endorsement from both our shareholders and customer base. It will allow us to add critical resources, advancing our progress toward the company’s mission of growing and making self-serve beverage systems a key method of dispensing beverages across the hospitality industry. Working with such a large and experienced group of angel investors has brought both new capital and helpful additional strategic expertise to our team.”
Tech Coast Angels OC (TCA OC) fund board member Ray Weston Jr. has been appointed as Observer to the iPourIt board. Weston shared, “TCA OC was pleased to learn about the company’s new initiatives for growth and product development. iPourIt’s smart self-serve beverage dispensing technology not only can improve customer control and choice, increase restaurant revenues, and cut labor and waste expenses, but it also has become particularly relevant for patron and staff safety during these pandemic times. iPourIt is a great example of the type of technological entrepreneurship that TCA members like to support.”
The new investment in iPourIt, Inc. was the fifth equity investment from Tech Coast Angels Orange County’s 2020 chapter fund. The fund is a new pool of startup capital collected from TCA members and its goal is to invest in 10-15 new companies each year.
“The new TCA OC 2020 chapter fund is the first of our annual investment funds,” said Jim Pickell, Fund Chair for TCA OC. “We’re putting early stage capital to work more quickly and efficiently than ever before through this new structure. We invite startup growth company CEOs to contact Tech Coast Angels to learn more,” said David Friedman, President of TCA OC.
About Tech Coast Angels
Tech Coast Angels (TCA) is one of the largest and most active angel investor networks in the nation, and a leading source of funding for seed-stage and early-stage companies. The angel network is comprised of five chapters, consisting of over 450 members in Southern California. Every TCA member is an accredited investor, and companies in which TCA invest go through well-structured, transparent, time-efficient screening and due diligence. TCA members are founders and business leaders who have extensive knowledge in the investment process and world-class business practices, and thus are able to provide companies with more than just capital: they also contribute counsel, mentoring and access to an extensive network of investors, customers, strategic partners and management.
Since its founding in 1997, TCA has invested over $240 million in more than 435 companies and has helped attract more than $1.6 billion in additional capital/follow-on rounds. For more info, please visit techcoastangels.com.
About iPourIt, Inc.
iPourIt, Inc. is the industry leader in self-pour beverage dispense technology with more than 5,800 taps installed, over 220 locations operating and 189 million ounces poured. Its team of experts partners with hospitality operators and entrepreneurs to create fun and interactive self-serve experiences for beer, wine, seltzer, spirits and more. iPourIt technology is proven to reduce labor and waste, while enhancing customer satisfaction and driving increased profitability.