Mashgin

Mashgin

Touchless self-checkout systems using AI

About Mashgin

Simplify's Rating
Why Mashgin is rated
B-
Rated A on Competitive Edge
Rated B on Growth Potential
Rated D+ on Rating Differentiation

Industries

Consumer Software

AI & Machine Learning

Company Size

51-200

Company Stage

Series B

Total Funding

$70.7M

Headquarters

Palo Alto, California

Founded

2014

Overview

Mashgin creates touchless self-checkout systems that use Artificial Intelligence and Computer Vision to improve the checkout process in busy places like stadiums, airports, and event venues. Their kiosks can quickly recognize multiple items placed on them, allowing transactions to be completed in about 27 seconds. This technology helps large venues reduce long lines and enhance customer satisfaction by providing a faster checkout experience. Unlike many competitors, Mashgin focuses specifically on high-traffic environments and offers their kiosks for sale or lease, along with service contracts. The goal of Mashgin is to streamline the checkout process and improve operational efficiency for businesses that handle a high volume of transactions.

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Simplify's Take

What believers are saying

  • Partnership with Verifone expands reach to 40% of U.S. convenience stores.
  • Collaboration with Keyo enhances security with biometric ID integration.
  • Integration with PDI broadens deployment in convenience retail and petroleum sectors.

What critics are saying

  • Biometric ticketing in stadiums may reduce demand for Mashgin's kiosks.
  • Verifone partnership may falter if Commander solution underperforms.
  • Privacy concerns over biometric ID could lead to regulatory challenges.

What makes Mashgin unique

  • Mashgin's AI-based system deploys faster and cheaper than Amazon Go.
  • Their technology reduces transaction times to an average of 27 seconds.
  • Mashgin's systems are touchless, enhancing hygiene and customer experience.

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Funding

Total Funding

$70.7M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:
Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Above Average

Industry standards

$35M
$45M
Linktree
$62.5M
Mashgin
$65M
Substack
$100M
ClickUp

Benefits

Competitive healthcare, dental & vision options

Competitive equity

Hybrid remote environment

Office snacks

Flexible PTO

401k

Growth & Insights and Company News

Headcount

6 month growth

↓ -2%

1 year growth

↓ -3%

2 year growth

↓ -3%
Nevada Tech Journal
Sep 24th, 2024
Mashgin Welcomes Peter Atkin as CRO and Eric Meyerson as VP Marketing to Help Build the Future of Checkout

Mashgin welcomes Peter Atkin as CRO and Eric Meyerson as VP marketing to help build the future of checkout.

PYMNTS
May 29th, 2024
Unattended Payments Shape The Future Of Retail Transactions

Human interaction used to be essential for finalizing transactions at traditional point-of-sale locations. However, there has been a shift, with unattended payments technologies increasingly becoming indispensable in today’s fast-paced retail environment. Ellie Smith, global head of digital acceptance at Discover® Global Network, pointed to a confluence of factors propelling this trend in an interview with PYMNTS

PYMNTS
May 20th, 2024
Mashgin And Verifone Team On Ai-Powered Self-Checkout

Touchless self-checkout company Mashgin has launched a partnership with payments solution provider Verifone. The two companies’ integration, announced Monday (May 20), will let Mashgin deploy its computer vision self-checkout system via Verifone’s Commander solution, found at 40% of convenience stores in the country. According to a news release, the integration lets retailers offer faster checkouts while running payments, fueling operations and loyalty programs through one central Commander Site Controller

PRWeb
May 20th, 2024
Mashgin To Integrate Its Ai Self-Checkout System With Verifone Commander

"Our goal is to enable as many retailers as possible to cut lines by adding a convenient self-checkout option. The integration with Verifone's Commander system will make Mashgin an attractive option for tens of thousands of convenience retailers." – Jack Hogan, SVP of Partnerships at Mashgin

PYMNTS
Mar 25th, 2024
Biometric Ticketing Drives Stadiums’ Digital Makeover

Baseball season officially kicks off March 28, and fans are set to experience a shift in their stadium visits across the country. One such change is taking place at Citizens Bank Park, home to the Philadelphia Phillies, where facial recognition ticketing will be introduced at all main entrance gates on opening day. The implementation of this biometric ticketing system is part of the MLB’s broader initiative to introduce its Go-Ahead Entry facial authentication technology across all stadiums league-wide during the 2024 season. Other teams, including the Houston Astros, are planning to deploy the system starting on opening day, with more expected to adopt it throughout the season

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