Restaurant365, a leading provider of a comprehensive restaurant enterprise management platform, has announced the successful completion of a $175 million funding round. The round was led by ICONIQ Growth, with participation from existing investors such as KKR and L Catterton.
Led by CEO Tony Smith, Restaurant365 offers a cloud-based solution designed specifically for the unique needs of the restaurant industry. The platform integrates accounting, inventory management, scheduling, payroll, and HR functionalities, providing operators with a centralized system to streamline their day-to-day operations. By empowering restaurant owners to effectively manage food costs, optimize labor, and enhance overall efficiency, Restaurant365 plays a crucial role in driving profitability and success in the competitive restaurant landscape.
The infusion of $175 million in funding will enable Restaurant365 to further expand its enterprise features and enhance its workforce and payroll product suite tailored to support hospitality brands. Moreover, the funding will bolster the company’s balance sheet, positioning it for future acquisitions and sustained organic growth.
Over the past year, Restaurant365 has made significant strides in enhancing its platform’s capabilities. The addition of employee training functionalities, including tip automation, task management, and restaurant intelligence dashboards, reflects the company’s commitment to continuously innovate and address the evolving needs of its customers. Furthermore, Restaurant365 has leveraged machine learning technology with the introduction of Capture AI, a feature designed to streamline invoice management processes.
In line with its growth strategy, Restaurant365 recently completed the acquisition of ExpandShare, an AI-powered learning management system tailored for restaurant training content delivery and tracking. This strategic move further strengthens Restaurant365’s position as a leading provider of comprehensive solutions for the restaurant industry.
With offices in Irvine, California, and Austin, Texas, Restaurant365 remains dedicated to empowering restaurant operators with cutting-edge technologies and solutions that drive efficiency, profitability, and growth in an increasingly dynamic market landscape.
The $175 million funding round represents a significant milestone for Restaurant365 as it continues to advance its mission of revolutionizing restaurant management through innovation and technology.
