Indiana based beer-analytics startup SteadyServ just raised $5m, bringing their total funding to $11.7m. The Carmel, Indiana based company offers a pretty unique beer-monitoring system to restaurants and bars: iKeg. The iKeg system is, in simple terms, a network of sensors that allows restaurant and bar owners/managers to monitor all sorts of information about their kegs. Further, the platform allows the owners/managers to automate nearly every process, short of changing out the empty kegs, involved with their beer supply.
The SteadyServ keg sensor collects and sends a host of information to users, including how much beer remains, the type and style of the beer in the keg, when it was delivered, when it was tapped, its age, and when the keg may run out. It sends this information to SteadyServ’s cloud-based software, where it is paired with other information, such as how much safety stock remains, the next delivery date, previous order information, past consumption trends, event information, beer consumption trends nearby, and even local weather forecasts which may impact patronage trends.1
As anyone who has ever worked in the food and beverage industry can tell you, managing and maintaining stock is one of the most tedious tasks of the job. Not only does SteadyServ streamline the inventory management aspects, but the company’s software links right up with the distributors’ platforms. This is a huge benefit for both the distributors and the retailers:
The iKeg system also lets beer distributors know at-a-glance which of its retailers are in inventory trouble. They can see who has ordered, who hasn’t and needs to order before they run out, which of their retail accounts are out of sync and seeing a slow down in beer sales. This information allows beer distributor reps to jump in and provide specific help and resources to aid their retailers in optimizing beer sales — often the greatest profit center for many establishments.2
It is pretty clear that SteadyServ is on to something. As of right now, the iKeg system is being used in around 250 retail stores in Indiana, Ohio, Kentucky, Michigan, Minnesota, and Austin, Texas. Further, the company is actively looking to expand into North Carolina, central Texas, central Colorado, Southern California, Northern California, Phoenix, and potentially New York City and Boston.3 Also, though they have not disclosed their exact revenue, IBJ.com, is reporting that it is in the 7 figure range.4