P97 Networks Company Profile

Background

Founded in 2012 and headquartered in Houston, Texas, P97 Networks specializes in cloud-based mobile commerce and digital marketing solutions tailored for the convenience retail, fuel, and automotive industries. The company's mission is to enable customers to deliver trusted, innovative, and rewarding mobility experiences, with a vision to simplify and energize daily journeys. P97's platform connects mobile devices and vehicles through identity and geolocation software, facilitating personalized consumer interactions.

Key Strategic Focus

P97 Networks focuses on enhancing mobile commerce by integrating secure payment systems, driving brand loyalty, and increasing consumer engagement. Their core objectives include:

Mobile Commerce One: A suite of services providing integrated point-of-sale systems and cloud solutions to streamline operations and boost customer engagement.

Payments One: A platform offering flexible and secure payment options, supporting various methods including network cards, digital wallets, ACH, proprietary cards, gift cards, and alternative payment methods.

Retail One: An integrated consumer engagement service enabling the creation and management of personalized digital offers, seamlessly integrating with loyalty programs.

Energy One: A package of electric vehicle (EV) charging services that integrates EV charging with convenience store services, simplifying payments via a unified mobile app.

Fleet 360: A comprehensive suite designed to support fleet fueling with next-generation solutions, digitally transforming traditional fleet card programs.

These platforms leverage advanced technologies to provide secure, cloud-based solutions that connect mobile devices and vehicles, enabling personalized consumer experiences.

Financials and Funding

P97 Networks has secured a total of approximately $119 million through various funding rounds:

Series A (December 2014): Raised $9.05 million, led by Emerald Technology Ventures.

Series B (May 2018): Secured $14.99 million.

Series B (February 2019): Raised an additional $5 million, with Accenture as a notable investor.

Debt Financing (January 2022): Obtained $40 million from Peak Rock Capital to support growth initiatives.

Series C (March 2023): Raised $40 million, led by Portage Ventures, to fuel strategic growth initiatives.

Debt Financing (April 2024): Secured $10 million from Wells Fargo.

The capital raised is intended to accelerate user adoption across P97's Consumer Engagement platform, support energy transition programs, and expand the Mobility Services platform.

Technological Platform and Innovation

P97 Networks' proprietary platform offers several key technological solutions:

Mobile Commerce One: Integrates point-of-sale systems with cloud services to enhance mobile payment experiences.

Payments One: Provides a secure and flexible payment platform supporting multiple payment methods.

Retail One: Enables the creation and management of personalized digital offers and loyalty programs.

Energy One: Integrates EV charging services with convenience store operations, offering a unified mobile app experience.

Fleet 360: Digitally transforms traditional fleet card programs, enhancing security and reducing fraud.

These platforms utilize advanced technologies, including identity and geolocation software, to deliver personalized consumer experiences.

Leadership Team

P97 Networks is led by a team of experienced executives:

Don Frieden: President & Chief Executive Officer.

Eddie Brucculeri: Head of Finance.

Bryan Olivier: Chief Operating Officer.

Fabian Braunwalder: Chief of Staff.

Bryan Haynes: Chief Revenue Officer.

Matthew Calamatta: Chief Technology Officer.

Steve Moses: Senior Vice President, Technical Operations and Compliance.

Saurabh Choudhary: Senior Vice President, Customer Success and Partnerships.

Paul Cwalina: Senior Vice President, Sales.

Bevin Wong: VP and GM, Fleet 360 Platform & MD, APAC.

Trang Flores: Vice President, Operations.

John Nelson: Vice President, Talent Acquisition.

Kevin McReynolds: SVP, Loyalty Platform & Solutions.

Scott Foxworth: Vice President, IT & Security.

Ingram Leonards: Director of Solution Architecture.

Andrew Farrell: Head of Engineering.

Melody Chang: Senior Accounting Manager.

Kimberly Reed: VP, Human Resources.

Competitor Profile

P97 Networks operates in a competitive landscape with several notable companies:

Kibo: Provides cloud-based commerce solutions, including mobile commerce platforms.

Punchh: Offers customer loyalty and engagement solutions for the retail industry.

Mad Mobile: Specializes in mobile commerce and digital marketing solutions.

Branding Brand: Develops mobile commerce platforms for retailers.

Clutch: Provides customer data and marketing solutions.

These competitors focus on various aspects of mobile commerce and digital marketing, offering solutions that overlap with P97's offerings.

Strategic Collaborations and Partnerships

P97 Networks has established significant partnerships to enhance its market position:

Shell: Recognized P97 as the 2019 Partner of the Year for delivering products on time, on scope, and within budget.

Accenture: Participated in P97's Series B funding round, indicating a strategic partnership.

These collaborations strengthen P97's capabilities and expand its reach in the mobile commerce and digital marketing sectors.

Operational Insights

P97 Networks differentiates itself through its comprehensive suite of mobile commerce solutions that integrate secure payment systems, digital marketing, and consumer engagement tools. The company's ability to connect mobile devices and vehicles using identity and geolocation software provides a personalized consumer experience, setting it apart from competitors. Additionally, P97's focus on energy transition programs and EV charging services positions it strategically in the evolving mobility landscape.

Strategic Opportunities and Future Directions

Looking ahead, P97 Networks aims to:

Expand User Adoption: Accelerate the adoption of its Consumer Engagement platform to enhance customer experiences.

Advance Energy Transition Programs: Support clients in transitioning to sustainable energy solutions, including EV charging services.

Enhance Mobility Services: Continue developing the Mobility Services platform to address the changing mobility landscape and consumer needs.

By leveraging its technological strengths and strategic partnerships, P97 Networks is well-positioned to capitalize on emerging opportunities in the mobile commerce and digital marketing sectors.