Cantaloupe Systems Moves To San Francisco
Fast-Growing Maker of Wireless Vending Technology Selects Space in SF’s SOMA District
Berkeley, CA ─ April 13, 2010 ─ Cantaloupe Systems, Inc., the fastest-growing, wireless, vending technology provider revolutionizing the decades-old vending machine business with wireless cloud-computing technology, is relocating its operations and corporate headquarters from Berkeley, Calif., to San Francisco’s SOMA District. Cantaloupe’s move is intended to better recruit and accommodate an expanding staff of engineers, analysts and customer support personnel.
Cantaloupe will open its 8,500 square-foot space at 612 Howard Street on the corner of 2nd and Howard in late April.
Cantaloupe’s primary product, Seed, installed in individual vending machines, monitors and reports all transactions in real time via cellular networks and the cloud. For the first time, vending operators can save time and money by knowing exactly what inventory needs replenishing in each machine, as well as being able to track and exploit sales patterns of various products. What’s more, reducing the frequency of visits to individual machines minimizes operators’ carbon footprints.
The number of vending machines enhanced with Cantaloupe’s Seed device reached 40,000 nationwide in 2009, with thousands more machines coming online each month. Despite harsh economic times, Cantaloupe Systems’ revenues more than tripled between 2008 and 2009, making it one of the fastest-growing companies in the Bay Area.
“San Francisco is the ideal location for a leading-edge technology company with global ambitions and concern for the environment,” said Cantaloupe Systems co-founder and CEO Mandeep Arora, who began working in his family’s vending business at the age of 13. “San Francisco’s central location will allow us to tap into the Bay Area’s thriving talent, education, enthusiasm and environmental vision we need to continue to deliver innovation and great service to our clients.”
San Francisco Mayor Gavin Newsom said: “I am honored to welcome Cantaloupe Systems to San Francisco’s thriving ecosystem of up-and-coming businesses. San Francisco has long been the epicenter for innovative technologies, and Cantaloupe System’s decision to relocate to San Francisco affirms and strengthens the City’s reputation as a hub for high-tech.”
About Cantaloupe Systems
Cantaloupe Systems, Inc., is the fastest- growing, wireless, vending operator in the U.S. The company was founded in 2002 by young engineers Mandeep Arora, a second-generation vending professional, and Anant Agrawal to provide automated merchandising for the $30 billion vending industry. Installed in individual vending machines, the Cantaloupe Seed device monitors all transactions and transmits the data securely via cellular networks and the Internet Cloud. The result: for the first time, vending operators know the state of each machine’s inventory without making a physical visit. Operators using Cantaloupe Seed Solution average $35,000 in annual savings per route, can replenish 80 percent more machines per week, and can reduce their carbon footprint by 40 percent eliminating unnecessary truck travel and removing excess product from the trucks.