The Israeli company MarketMan, which provides a stock management and supply automation platform for the American restaurant and Meal Ticket industry, which provides a business management platform for producers and distributors, today reported a $ 100 million merger and investment from PSG Investment Fund, which supports software and technology companies in stages. growth.
According to the companies, the current investment is intended to support the formation of the two companies, and the purpose of the merger is to enable more efficient interactions between food distributors, retailers and restaurateurs while merging the companies’ complementary software.
As a joint venture the companies will continue to operate their existing product lines in addition to developing new joint ventures. The company plans to recruit additional employees for its offices in Tel Aviv and New York, with an emphasis on its engineering and product development teams based in Israel.
MarketMan was founded in 2013 by Noam Wolf, Yigal Wolf and Or Mintz, and Meal Ticket was founded in 2011 by Wink Jones and Brian Conrath. Both companies were established with the intention of providing operational tools to businesses in the food service supply chain to contribute to efficiency and profitability. Meal Ticket’s all-in-one platform provides software solutions to the customer and helps distributors increase their sales, it reported.
It has also been reported that MarketMan’s cloud-based inventory management software enables restaurants to manage inventory and orders, monitor purchase expenses and food costs, as well as analyze actions taken on these issues in order to save restaurants time and yield higher profitability.
Noam Wolf, CEO of Marketman: “The company has always focused on solving inventory problems and automation of suppliers to restaurants. This deal is an opportunity for us to accelerate the development of the platform. .
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