The Branded team couldn't be more proud to share that our portfolio partner GoParrot has been acquired by Square.
GoParrot was one of Branded's earliest investments and we are so excited for the team on being recognized by one of the industry’s leading technology platforms. Besides being our second exit, it was also the second time Branded played a role as "matchmaker" in bringing these respective parties together. As we say...it takes a village!
If you know Team Branded you know our thesis is operator-centric and we stack our cards high within the omni-channel and off-premise playing field. When we first met GoParrot, we believed their product would help countless operators own their own delivery program. And we were right. Additionally, as the pandemic accelerated off-premise making it a necessity, not just a nicety, GoParrot saved the day for many operators.
As consolidation continues to be attractive to operators and tech providers, we are thrilled that Square, a VERY operator-centric POS, has acquired such a strong and important piece of the food on demand puzzle.
With GoParrot, Square sellers can offer an exceptional customer experience with a customizable white-label app that merchants can design to be unique to their brand. Through the app, buyers can seamlessly place orders while also viewing top-selling items and deal pop-ups for enhanced personalization. Restaurants can also increase buyer retention by offering consumers an easy way to track loyalty rewards right from their mobile device.
“The GoParrot journey did not come without it’s challenges, but the Branded Team was always there when we needed them. They were more than an investor, they were a strategic partner.” said GoParrot Founder Yaniv Nissim. When asked about the acquisition, Nissim also said, “As an Israeli, I am also proud that this is Square’s first investment in Israeli Technology. In addition to the technology, Square also has GoParrot’s 60 person development team based in Moldova, giving them a footprint in the fast growing development market of east Europe.”
Congrats again to our friends at GoParrot and Square!
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