Plymouth Venture Partners Fund II Makes Follow-On Investment in Micro Market Leader 365 Retail Markets
Ann Arbor, MI— Plymouth Ventures closed this week on a follow on investment in 365 Retail Markets (365) of Troy, Michigan. 365 designs and builds unattended point of sale hardware and software used in Contract Foodservice, Vending and Hospitality. Most of 365’s customers use their technology platform to reduce labor costs, increase revenues and enhance consumer engagement. As part of this funding, 365 plans to continue invest in foodservice and small store technologies as well as expand internationally.
Plymouth has continued to fund 365 due to the talented and deep management team, their leading position in the Micro Market industry and the high revenue growth rate.
Mark Horne, Plymouth Venture’s Chief Executive Officer, commented, “365 has been a consistently strong performer for us. In fact, based on various rankings, we believe it to be the fastest growing of any company in Michigan with more than $10 million in annual revenue. Joe Hessling is a proven visionary in this new and rapidly growing market. We look forward to assisting 365 in continuing to aggressively build its business.”
Joe Hessling, 365 Retail Markets’ Chief Executive Officer, added, “Our strong relationship with Plymouth continues to pay off for us. The opportunities for self-service technology in the world is enormous, and having a resource that understands and is aligned with our strategies, is a key ingredient in our growth recipe. 365 has several groundbreaking initiatives underway and are still rapidly growing domestically and internationally, these investments have helped us grow from just 15 employees in the past, to 80 plus today.”
Plymouth Ventures’ Partner Jeff Barry sits on 365’s board and led this financing round.
About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I, Plymouth Venture Partners II, and Plymouth Venture Partners III. The company has four partners, Mark Horne, Jeff Barry, Kevin Terrasi, and Evan Ufer. Plymouth was founded by Ian Bund who remains active as a Senior Advisor. The firm is headquartered in Ann Arbor, Michigan. For more information, please visit www.plymouthvc.com.
About 365 Retail Markets
365 Retail Markets, an expanding, self-checkout technology company based in Troy, Michigan, offers the best-in-class platform for vending, foodservice and hospitality. Its proprietary, 365 MicroMarket, is a turnkey, unmanned market that allows customers to increase sales, improve the customer experience and increase profits while decreasing operating costs. 365 Retail Markets has been pioneering innovation in the vending industry for over five years and continues to revolutionize the market with superior technology and ultimate flexibility in customization and branding.