Aon has set up a $35 million intellectual property (IP) based funding arrangement for GRUBBRR, a provider of self-ordering technologies, creating an IP-collateralized debt structure that enabled the firm to raise additional funds through debt.
Headquartered in Boca Raton, Florida, GRUBBRR’s technologies include kiosks, mobile ordering, POS, online ordering, KDS and contactless smart lockers.
To facilitate the new funding, Aon’s Intellectual Property (IP) Solutions team combined its proprietary IP valuation tools and a collateral protection insurance policy to help set up the debt structure.
The arrangement is expected to help drive the further expansion and development of GRUBBRR’s self-ordering solutions.
“Intellectual property and, more broadly, intangible assets, are fueling much of the innovation in today’s growth economy. Our unique solutions are designed to help growth-stage companies like GRUBBRR maximize the potential value of their intellectual property,” said Lewis Lee, CEO of Aon’s Intellectual Property Solutions.
“We are committed to helping IP-rich companies unlock the value of these assets and provide them greater access to capital so they can further pursue growth with minimal dilution to their ownership.”
GRUBBRR CEO Sam Zietz also commented: “This financing from Aon comes at a pivotal moment in GRUBBRR’s growth. Right now, our biggest challenge is scaling the business to meet the demands of the industry.”
“With this funding from Aon, we will be investing in the development and scaling of our team and our solutions. GRUBBRR’s management team will continue to deploy and allocate capital with a disciplined approach consistent with creating value in a hyper-growth environment.”