Texas Business reports: AUSTIN—A Texas firm that allows sports fans to order their hotdogs from their seats and not miss the game is continuing its rapid growth.
Bypass Lane, a mobile application and in-venue commerce platform for sports and entertainment properties, raised $1.75 million in new growth capital.
The investor group represents a group from the sports and entertainment industries, including Red McCombs (former owner of the Minnesota Vikings, Denver Nuggets, and San Antonio Spurs), Casey Wasserman (chief executive of Wasserman Media Group), Don Sanders (co-owner with Nolan Ryan of Ryan-Sanders baseball), and Capital Sports and Entertainment (business managers and agents for Lance Armstrong, owners of Team RadioShack, and founding partners of C3 Presents). The new round of capital follows a successful year in which the company outpaced competitors and exceeded internal targets for revenues and installations.
“This round of funding has provided us the unique opportunity to broaden our relationship base in sports and entertainment, while partnering with a group that knows these markets inside and out,” said Bypass Lane president Brandon Lloyd in a prepared statement.
Bypass Lane's mobile application enables fans to place orders and pay for in-venue products, including concessions and merchandise from their seat. Depending on the site, fans may either have concessions delivered to their seat or can pick up their order at the venue's nearest Bypass Lane without waiting in line.
Users are able to securely store their payment information during their first use, and may use the service at any participating location without reentering their payment data.
Bypass Lane, which went live in its first venue on July 7, 2010, now operates in 40 sports and entertainment venues across the country, including those in the NFL, MLB, NBA, NHL, MiLB, and NCAA. Clients include the Philadelphia Eagles, Stanford University, Texas Rangers, Minnesota Wild, University of North Carolina, American Airlines Center and numerous other premier entities.
The in-venue commerce solution empowers venue operators to enhance the fan experience with premium concession offerings, to learn from fan behavior, and to narrowcast promotions and offers to specific fans in designated sections.
“We offer a technology that solves a real problem for fans while providing a direct return on investment for sports properties through increased in-venue commerce spending and the opportunity to reward loyal fans with a premium service,” Lloyd said. "Connected fans are looking to their mobile devices as a way to interact and enjoy sporting and entertainment events. At Bypass Lane, we take that experience a step further – improving in-venue commerce in a manner that benefits the fan, the property, and increasingly, their brand partners.”
Lloyd attributes his company's success to their background in food service, transactions, and development, as well as their understanding of the mobile marketplace.
“2011 has been a remarkable year for us in terms of venue and user adoption, new partnerships with industry leaders, and financial performance,” Lloyd said. “We intend to build on this momentum in transactions and venue installations, keeping fans in their seats watching the games and shows they love, while streamlining concessions for venues and teams all over the country.”
The company distributes its Bypass Lane applications on iOS, Android, RIM and mobile web, as well as integrating with 3rd party app developers through the provision of static libraries.
Bypass Lane provides enterprise level customers the ability to mobilize their point-of-sale, turning every smart phone that walks through the door into a customer driven point-of-sale. In the sports and entertainment market segment, Bypass Lane allows fans to skip the line, not the game, by ordering concessions and merchandise using their mobile devices. The company provides native applications, a mobile web view, and a platform to allow third-party developers to leverage the extensive payment and enterprise point-of-sale integrations created by Bypass for custom applications. Headquartered in Austin, Bypass Lane incorporates extensive experience in payments, mobile development, and contract food service to deliver a solution enabling venues and brands to connect with fans on an individual level