New York-based growth capital firm Insight Partners has led a $US50 million ($78.6 million) investment round in venue management software company Roller.
Melbourne-based Roller was launched in 2010 by brothers Luke and Mark Finn targeting businesses such as trampoline parks and climbing gyms.
Luke Finn, Roller’s chief executive, said the company now had 1,500 customers worldwide and was facilitating hundreds of millions of guest experiences each year through its platform.
The business has achieved more than 5x revenue growth over the last three years and has done so in a capital efficient manner, according to Insight Partners.
Insight Partners managing director Rachel Geller, who will join the company’s board, said: “Roller has built an impressive business that is positioned to become a global category leader. The company’s genuine obsession and dedication with delivering real value to its customers is a hallmark of all truly great businesses.”
Roller intends to use the new capital to further develop its platform and services and accelerate global expansion, likely including further acquisitions in the fragmented venue management software market. Last year, the company acquired Texas-based Activ8 which also offered point-of-sale software targeted at entertainment venues.
Roller has offices in Melbourne, London and Austin, Texas and sees the US as a key market for its further growth.
Closure of the new investment round is conditional on Foreign Investment Review Board approval.
Partners for Growth provided debt funding for Roller in 2021. The company then raised $28.2 million in debt and equity last year which enabled some early investors, including former head of MinterEllison and PwC Tony Harrington and former Tourism Australia head Andrew McEvoy, to sell down their stakes. Early investors who sold out or sold down stakes achieved 7x-10x returns on their money.
Roller’s software is designed to provide venues with an all-in-one service. The cloud-based platform provides ticketing, point-of-sale services, integrated payments, customer relationship management (CRM), memberships, gift cards, waivers, cashless wallets, guest experience scoring and other facilities.
Luke Finn said: “Whilst we have come so far over more than a decade since starting the business, this is only the beginning. We are more excited than ever to accelerate our investment in helping our customers to grow and deliver amazing experiences for their guests.”
Roller’s software is currently used in more than 28 countries.Rush Group, the largest trampoline park business in Europe, recently integrated Roller’s software.
Image: A Roller self-service kiosk.