Addmi, Inc. Company Profile

Background

Addmi, Inc. is a privately held company specializing in point-of-sale (POS) solutions tailored for the hospitality industry. Founded in 2016 and headquartered in Albuquerque, New Mexico, Addmi's mission is to enhance business operations by providing comprehensive, user-friendly software solutions that streamline workflows and improve customer experiences. The company's vision centers on delivering efficient and effective tools that contribute to the success of its clients, thereby fostering mutual growth.

Key Strategic Focus

Addmi's strategic focus lies in offering an all-in-one POS system that integrates various functionalities without hidden fees or long-term contracts. The core objectives include:

Comprehensive Feature Set: Providing a platform that encompasses essential features such as online ordering, inventory management, kitchen display systems, data capture, email marketing, gift cards, loyalty programs, and time card management.

User-Friendly Interface: Ensuring the software is intuitive and easy for staff to use, thereby reducing training time and improving operational efficiency.

Cost-Effective Solutions: Eliminating unexpected fees and offering transparent pricing to help businesses manage costs effectively.

Target Markets: Primarily serving the hospitality sector, including restaurants, food halls, and event venues, with a focus on enhancing customer engagement and operational efficiency.

Financials and Funding

As of the latest available data, Addmi has raised approximately $627,000 through an angel investment round in March 2019. The company's estimated annual revenue is around $1.3 million, with a revenue per employee of approximately $87,000. The funding has been utilized to develop and enhance the company's POS platform, expand its feature set, and support growth initiatives within the hospitality industry.

Pipeline Development

Addmi has continually evolved its product offerings since its inception:

2016: Launched as an app pioneering QR codes for improved in-person networking.

2017: Expanded to include an events platform with QR code-based ticketing and smart check-in, featuring an automated contacts database and built-in email marketing.

2018: Introduced a QR code-based membership feature with automated renewals.

2019: Developed a contactless QR code-based ordering system with a full POS, initially supporting event sales and later adopted by local restaurants for its efficiency and enhanced customer experience.

2020: Expanded services to power food hall ordering and provide deliveries to hotels and offices, including a delivery service with a 10% charge to the restaurant.

Technological Platform and Innovation

Addmi's technological platform is distinguished by several proprietary technologies and methodologies:

QR Code Integration: Utilizing QR codes for contactless ordering, ticketing, and membership management, enhancing customer convenience and operational efficiency.

Comprehensive POS System: An all-in-one platform that integrates various functionalities, reducing the need for multiple software solutions and minimizing integration challenges.

Automated Marketing Tools: Built-in email marketing and loyalty programs that enable businesses to engage customers effectively and foster repeat business.

Data Analytics: Providing businesses with insights into sales trends, customer behavior, and operational performance to inform decision-making.

Leadership Team

Andy Lim: Founder, President, and Chief Executive Officer. Andy has been instrumental in guiding Addmi's strategic direction and product development since its inception.

Theodore Schnepper: Chief Technology Officer. Theodore oversees the technological development and innovation of Addmi's platform, ensuring the delivery of robust and user-friendly solutions.

Leadership Changes

As of the latest available information, there have been no significant recent changes or appointments within Addmi's leadership team.

Competitor Profile

Market Insights and Dynamics

The POS market, particularly within the hospitality industry, is characterized by rapid technological advancements and a growing demand for integrated, user-friendly solutions. Businesses seek platforms that not only process transactions but also offer features like online ordering, inventory management, and customer engagement tools. The market is competitive, with numerous players offering a range of solutions tailored to different business sizes and needs.

Competitor Analysis

Key competitors in the POS space include:

Toast: Offers a comprehensive POS system with features like online ordering, delivery management, and customer loyalty programs. Known for its user-friendly interface and scalability.

Square: Provides a versatile POS solution suitable for various business types, including restaurants. Features include payment processing, inventory management, and analytics.

Lightspeed: Offers a cloud-based POS system with advanced inventory management, analytics, and e-commerce integration, catering to the hospitality sector.

TouchBistro: Focuses on the restaurant industry, offering a POS system with tableside ordering, menu management, and reporting tools.

Strategic Collaborations and Partnerships

Addmi has developed strategic collaborations to enhance its service offerings:

Reseller Partnerships: Collaborates with resellers to expand its market reach and provide localized support to clients.

Integration with Delivery Services: Offers delivery services with a 10% charge to the restaurant, facilitating efficient order fulfillment and expanding customer reach.

Operational Insights

Addmi's strategic considerations in relation to major competitors include:

Transparent Pricing: Differentiates itself by offering an all-in-one POS system without hidden fees or long-term contracts, addressing common pain points in the industry.

Comprehensive Feature Set: Provides a wide range of integrated features, reducing the need for multiple software solutions and simplifying operations for businesses.

Focus on Customer Success: Emphasizes building solutions that are helpful, efficient, and effective, aligning with the success of its clients.

Strategic Opportunities and Future Directions

Looking ahead, Addmi is positioned to capitalize on several strategic opportunities:

Expansion into New Markets: Exploring opportunities to serve additional segments within the hospitality industry, such as hotels and catering services.

Enhanced Technological Capabilities: Investing in the development of advanced features, such as AI-driven analytics and personalized customer engagement tools.