Cantaloupe Systems Appoints Mike Marett Senior VP Of Business Development

Posted On: 5/20/2015

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TAGS: Cantaloupe Systems, machine-to-machine communications, Mike Marett, Cantaloupe senior vice-president of business development, M2M, remote vending machine, monitoring, cashless vending, Internet of Things, Mandeep Arora

SAN FRANCISCO -- Cantaloupe Systems has announced that machine-to-machine communications veteran Mike Marett is joining the company as senior vice-president of business development. The appointment takes effect immediately.

Marett is the former chief operating officer and division president of a M2M solutions provider, according to Cantaloupe, and brings more than 25 years' experience to his new post. He will concentrate on new business opportunities and partnerships leveraging Cantaloupe's vending machine technology, which includes remote monitoring and cashless payment processing.

Marett observed that Cantaloupe's cloud-based mobile technologies are adaptable to "the very exciting unattended retail market that we see emerging today." He pointed out that the company has been in the vanguard of developing solutions that apply "Internet of Things" and M2M technologies for vending, and is in a position to do so in new markets, too.

Cantaloupe reported that the fast-growing IoT market is expected to reach about $7.1 trillion by 2020 and connect about 26 billion devices to the Web, according to the Worldwide and Regional Internet of Things 2014-2020 Forecast, titled "A Virtuous Circle of Proven Value and Demand." Leveraging its IoT and M2M technologies, Cantaloupe has already connected more than 150,000 machines.

"We couldn't be happier to have Mike join the team," said Cantaloupe chief executive Mandeep Arora. "His broad experience across operations, sales and business development, as well as his background in the IoT and analytics space, will be invaluable as we begin to explore new markets in which to grow and expand our innovative vending solutions."

Cantaloupe Systems is backed by Global Environment Fund of Chevy Chase, MD, and Foundation Capital of Menlo Park, CA.