foosye

Foosye is a market maker for the food truck industry that eliminates obstacles which confines the success of food truck markets.

Business Model: SAAS

Revenue: $0

Employees: 1-10

Detailed foosye Information

Geographic Data

foosye headquarters map

Address:

City: Garner

State: North Carolina

Zip:

Country: United States

Financial Info

Stage:

convertible note

Raised Last:

$167k

Raised Total:

$220k

Metrics

0Website Global Rank

0Website Monthly Traffic

Twitter Followers

Description

Foosye® began in 2014 with a small group of entrepreneurs who had a vision – to eliminate “drive, park and pray” within the mobile food truck industry. The food truck industry has gained significant momentum over the past 5 years, growing from an estimated $650 Million in revenue in 2012 to an estimated $5.9 Billion in 2017. And yet, food truck owners and operators are challenged with balancing demand and supply to achieve profitability. Inspired by Co-Founder Ray Chow, two long-term foodies and an experienced restaurant and food truck owner came together to help solve the drive, park and pray challenge and create a platform that connects the world’s mobile food industry. Our mission is simple: to amplify food truck operations utilizing technology, predictive analytics and IoT on a food truck. By connecting what we believe are 10 unique customer segments into a robust ecosystem, Foosye® will offer an industry-wide platform that enables communication, scalable and repeatable processes and ultimately profitability for this growing industry segment. Foosye® is much more than a technology – it is a platform that connects the mobile food industry. In 2015, Foosye® filed a patent for our platform technology and processes. Our patent is bigger than just the mobile food industry, and supports all mobile retail. Given the popularity and continued growth of the food industry, mobile food trucks are our primary market entrance. Long-term, the Foosye® platform will be used to enable other mobile vendors, including mobile clothing retailers, pop-up markets, etc. The food truck industry is more robust and dynamic than meets the eye. Ten unique customer segments not only influence and effect the industry, but also represent revenue streams for the Foosye® platform. These segments include: Food Truck Owners General Public Advertisers Event Coordinators Vendors/Suppliers Commissaries Trade Associations Government Municipalities Food Truck Parks &a; Lots Contrary to common misconception, all food trucks are not the same. Each is unique in its capacity to balance marketing and operating a business while taking care of the paying customer at the window. Event coordinators and consumers are also key constituents in the mobile food community; without these there is no demand for the trucks. Foosye® solves this challenge by offering an industry-wide, data-driven platform that allows mobile food truck owners to focus on the customer at the window while leveraging predictive analytics and simple dashboards to make better decisions on when and where to operate their trucks. The Foosye® platform simultaneously allows event coordinators and consumers to engage directly with food trucks. In an increasing mobile society connected via social technologies, the mobile food truck industry is poised to dominate consumer interest over the next 3 to 5 years. By combining a wide variety of dining selections, in a convenient way, that feeds the experiences that today’s consumers value, the food truck industry will only continue to grow and expand. Foosye® is uniquely positioned as THE platform connecting the mobile food supply chain, eliminating “drive, park and pray” for vendors and “where’s lunch?” for consumers.

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Announced Date Company Transaction Money Raised
Announced Date Transaction Number of Investors Money Raised Lead Investors
11/2014 Seed Round $20k
12/2015 Convertible Note $166.8k
5/2015 Seed Round $33k
Announced Date Name Price
7/2016 Sac Food Trucks

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