Atlanta (September 3, 2015) – Today, Gimme Vending, an innovative device and software solution that enables vending machines to communicate sales, cash and inventory data to handheld devices, announced that it has received $450,000 in seed funding. This initial funding round from David Cummings of Atlanta Ventures and private investor, John Lally, will provide Gimme with the capital needed to pursue aggressive technology advances and make strategic new hires.
The brainchild of co-founder Cory Hewett, who spent summers in high school filling vending machines, and developer ace Evan Jarecki, Gimme is a combination hardware/software solution that lets vending companies track what’s happening in the field and where the cash and inventory are – in real-time – without downloading, synchronizing or hand-keying.
“With this critical round of funding, our vision is to streamline, automate and revolutionize the vending industry with Gimme by helping our customers solve their two biggest problems: keeping track of cash and product, and speeding service calls,” said Cory Hewett, CEO and Co-Founder of Gimme. “By solving these problems, our solution gives vending machine owners the ultimate insight into their operations, with a real-time view of their drivers in the field, their current status and performance, and how many assets are currently deployed and where – something that is otherwise unavailable today from the incumbent technology providers.”
“The vending market is playing catch-up and in need of technology solutions that advance and streamline the business. The Gimme team has encased powerful technology in a simple, usable solution – the winning formula for success and fast growth,” said David Cummings, CEO of Atlanta Ventures.
Some of Cummings’ most notable start-up investments include marketing automation software provider, Pardot, which was acquired by Salesforce.com in 2013 and Yik Yak, a location-based microblogging app that exploded onto the social media scene and raised $60 million from Sequoia Capital in 2014.
Fellow well-known Atlanta startup investor, John Lally, has spent the last 30 years in the private equity and investment banking business and co-founded Resurgens Capital Partners, which has invested in numerous businesses, including StorageApps (acquired by Hewlett-Packard), and generated significant returns on invested capital.
Gimme continues to build traction, signing customers like Atlanta-based Eagle Vending and winning $50,000 at the Technology Association of Georgia’s Business Launch Competition in May. For more information, visit www.gimmevending.com.
Ushering the vending industry into digital age, Gimme’s plug-and-play solution gives vending owners the ability to track cash, inventory and speed service calls thanks to a pocket-sized device that transmits information instantly to handheld devices/mobile phones. For more information, visit www.gimmevending.com.