A Fishers-based data analytics company for the beverage industry says it looks to emerge from Chapter 11 bankruptcy "promptly" as it continues the transition from beer waste reporting to total beverage management solutions for retailers and suppliers. Co-founder and Chief Executive Officer Steve Hershberger says the company has a "good plan and best-in-class product," and believes SteadyServ will exit in a stronger position to move forward in what he calls a challenging retail food and beverage marketplace.
SteadyServ was founded in Carmel in 2012 and moved to Fishers in 2016. It is headquartered in the city’s IoT Lab. Hershberger says migrating beyond draft to a total beverage management platform has required significant time, capital and energy, but believes that it is an "absolute requirement" for the company’s success.
In a statement provided to Inside INdiana Business, Hershberger says Chapter 11 will allow SteadyServ to reorganize, restructure its debt and recapitalize. He says the company has negotiated and expects to obtain a debtor-in-possession line of credit to fund ongoing operations.
SteadyServ’s big-name clients have included Its big-name clients include AT&T Stadium in Texas, Applebee’s and Tilted Kilt. Hershberger says the company maintains a more than 96 percent customer retention rate, which he believes shows the platform’s value to those that use it.
Hershberger discussed the platform during a 2016 interview on Inside INdiana Business With Gerry Dick.