Kirkland-based point-of-sale startup Cheq Lifestyle Technology Inc. has raised $13.3 million, the company reported in a Securities and Exchange Commission filing last week.
Cheq co-founder and CEO Thomas Lapham said the money consists of an $8 million seed round, while the rest of the funding is in the form of future equity notes. The company has 18 full-time employees right now, he said, and plans to double its headcount by the end of next year.
"We've proven, I think, that we've got technology that people love," Lapham said. "We need to start onboarding all these restaurants, bars, nightclubs, etc., around the stadiums, and it's really just staffing up to do that, and to do it in a smart way."
Lapham added that the majority of the team is based in Kirkland, with a handful of people in Miami and a couple of remote employees. Cheq also has nearly 40 full-time contractors in Dhaka, Bangladesh.
Cheq, founded in 2020, is meant to be a more active version of point-of-sale systems like Square and Toast. The company helps businesses attract customers by alerting nearby consumers about deals and coupons, and it will tell consumers inside stadiums which nearby bars and restaurants will still be open after an event.
Consumers can order food and drinks from their stadium seats and either pick their purchases up or have them delivered. A social function, meanwhile, can let friends and groups know who has checked in where, and restaurants are alerted to the dietary preferences of arriving customers.
Cheq leases space in a Kirkland office park at 811 Kirkland Ave. Lapham said Cheq has room to grow at its current space, and the surrounding complex has additional space if Cheq ever decides to expand.
Lapham said Cheq's investors include WestRiver Group, Harvard's Yard Ventures and Flamingo Capital. Seattle-based WestRiver Group has invested in companies like DocuSign and Topgolf.
Lapham said Cheq is in six stadiums now but plans to be in 10 by the end of the year. Its clients include Hard Rock Stadium, home of the Miami Dolphins, and University of Washington's Husky Stadium.
"We're really looking in Q1 to expand with some more sports partnerships, and then really to start expanding into the restaurant and bar scene in Seattle," Lapham said. "All the cool restaurants are coming into stadiums. Those (restaurants) all become our customers. Then they become our customers outside the stadium. It's just a great way for us to build an ecosystem."
