Chexology

Chexology offers a software-as-a-service (SaaS) platform designed to replace physical claim tickets in various service environments. The company’s origins trace back to 2010 when founder Derek Pacqué, then a student at Indiana University, lost his coat at a local bar. This experience led him to create a pop-up coat check service, initially named Hoosier Coat Check LLC, to address the liability and operational challenges that prevented venues from offering this amenity. After achieving $90,000 in sales with 50% profit margins, Pacqué realized the inefficiency of paper tickets and conceived a digital solution.

Initially developed as CoatChex, the patented system uses a tablet or smartphone to take a photo of the customer and their item, linking them via their phone number, effectively making the customer their own claim ticket. In 2012, Pacqué pitched the concept on the television show *Shark Tank*, where he famously turned down a $200,000 offer from investor Mark Cuban. The national exposure from the show was a significant milestone, propelling the platform into new markets. In 2015, the company secured a $1.2 million seed funding round and rebranded from CoatChex to Chexology to reflect its expansion beyond coat checks. The company has since raised a total of $1.45 million.

The business operates on a SaaS model, serving a diverse client base that includes hospitality venues, event organizers, and transportation hubs. High-profile clients include the Museum of Modern Art, Live Nation, Sheraton Hotels & Resorts, and Nike. The platform has evolved to manage not just coats but also luggage for bellhops, valet services, convention packages, and rentals like silent disco headphones. The system works through an iOS app combined with NFC-enabled reusable tags, which can be customized with client logos. For customers, the service sends a text message with their claim information upon check-in, reducing wait times and eliminating lost paper tickets. For businesses, it provides added security through photo verification and offers data-driven insights to optimize operations. In 2021, the company launched ChexPass, a contactless digital claim ticket for Apple Wallet and Google Pay, further speeding up the check-in and check-out process.

Keywords: ticketless check-in, bailment software, guest experience platform, coat check system, luggage storage solution, valet technology, item tracking, event management software, hospitality technology, SaaS