iKentoo SA

Founded in Geneva, Switzerland, in 2011 by David Clerc and Serge Sozonoff, iKentoo SA developed a sophisticated iPad-based point-of-sale (POS) and business management system for the hospitality sector. The inspiration reportedly came from a conversation between the founders about creating a more powerful and cost-effective alternative to traditional cash registers. The company targeted a wide range of clients, including restaurants, hotels, food trucks, bars, and multi-site chains.

iKentoo's business model operated on a subscription-as-a-service (SaaS) basis, providing its software for a monthly fee. The core of its offering was an iPad and iPod Touch/iPhone application that managed orders, tables, and payments, complemented by a cloud-based back-office platform. This backend system allowed business owners to access real-time financial reporting, track sales performance, manage inventory, and oversee staff hours from any location. A notable feature was its proprietary 'TrueSync' technology, which ensured the POS system remained operational and synchronized across devices even without an internet connection. The platform also supported various payment options, including QR code loyalty cards and integrations with hotel management systems like Protel and Mews Systems.

The company successfully secured CHF 6.8 million in total funding, including a significant CHF 5 million round in 2017, which fueled its organic growth. By July 2019, iKentoo served over 3,800 customer locations across 14 countries, with a particularly strong presence in Switzerland, France, and South Africa. This success culminated in its acquisition by the Canadian commerce platform Lightspeed POS Inc. in July 2019 for approximately $35.9 million. Following the acquisition, the iKentoo system was integrated into Lightspeed's product suite and became known as Lightspeed Restaurant (K Series). The entire iKentoo team joined Lightspeed to continue developing the platform and expanding its reach.

Keywords: iKentoo, Lightspeed Restaurant K Series, David Clerc, Serge Sozonoff, iPad POS system, hospitality management, restaurant POS, hotel POS, food truck POS, bar POS, cloud-based POS, business management software, SaaS, point of sale, TrueSync, offline POS functionality, inventory management, real-time reporting, customer payment options, acquisition, Switzerland, Geneva, restaurant tech