Venture Capital: Cloud-based Restaurant Management Software Provider Restaurant 365 Lands $135M
The software from Restaurant365 offers accurate, timely reporting that provides a clear and complete view of the business.
Restaurant365, a leading restaurant enterprise management software provider, has announced a successful funding round of $135 million. The funding was co-led by global investment firms KKR and L Catterton, with participation from existing investors such as ICONIQ Growth and Bessemer Venture Partners.
Restaurant365 is a cloud-based solution that combines accounting, inventory, scheduling, payroll, and HR functions tailored specifically for restaurants. The software simplifies day-to-day management, enabling operators to control food costs and optimize labor. The company is based in Irvine, California, with an office in Austin, Texas. (CISION PRNewswire)
Restaurant365 aims to revolutionize the restaurant industry by offering innovative solutions that boost sales, enhance food cost control, and optimize labor management.
The company has recently achieved significant milestones of $100 million in revenue, $1 billion in value, and supporting over 40,000 restaurant locations.
The funding will be used to enhance Restaurant365’s product suites, including Accounting, Store Operations, Workforce, and Intelligence, ensuring they meet the evolving needs of the restaurant industry. The company also aims to expand its market share.
KKR is a leading global investment firm offering alternative asset management, capital markets, and insurance solutions. L Catterton is a consumer-focused investment firm managing a significant amount of equity capital across private equity, credit, and real estate.
Related Story: Restaurant Software Maker Toast Raises $400 Million
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