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.
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SOURCE Flux Capital
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