365 Retail Markets Partners With McCarthy Capital To Accelerate Growth In Micromarket Sector

Posted On: 8/18/2016

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TAGS: Micromarket, 365 Retail Markets, McCarthy Capital Fund VI, Chase Meyer, Joe Hessling, vending operator, National Automatic Merchandising Association, Vending Data Interchange

TROY, MI -- Micromarket leader 365 Retail Markets said that it has partnered with McCarthy Capital Fund VI to continue its rapid global expansion. Omaha, NE-based McCarthy Capital, which manages more than $1 billion of investment wealth, specializes in backing software businesses in partnership with their management teams. Details on the investment amount were not disclosed.

McCarthy Capital vice-president Chase Meyer praised 365, led by chief executive Joe Hessling, for driving the rapid adoption of micromarkets. "The company's focus on technology and customer service enables vending and foodservice operators to provide better customer experiences, improve operations and increase profits," he said.

Three Six Five is headquartered in Troy, MI, and maintains offices in Santa Clara, CA, and Provo, UT. Its self-checkout technology, introduced in 2008, is employed by operators in the vending, foodservice and hospitality industries. Corp!, a magazine covering Michigan's business scene, recently named 365 Retail one of the state's Economic Bright Spots. | SEE RELEASE

The high-tech Michigan company introduced several innovations at the National Automatic Merchandising Association's vending trade show this past spring. Among these is 365connect, software that allows both vending machines and unmanned markets to be managed by the same Vending Data Interchange (VDI) solution. Also new are low-cost mobile payment options, payroll deductions for stored-value accounts, layered promotions and enhanced security reports (to reduce fraud). The company's new mobile inventory app, with variance analysis, lets operators use a handheld scanner to simplify inventory reports; it compares expected quantities and sales from different dates against current stock.