Restaurant365, headquartered in Irvine, California, has secured $175 million in funding to enhance its enterprise management platform for restaurants.
The funding round was led by ICONIQ Growth, with contributions from existing investors KKR and L Catterton.
The company plans to utilize the funds to expand its enterprise features, enhance its workforce and payroll product suite for hospitality brands, strengthen its financial position for future acquisitions, and support ongoing organic growth.
Under the leadership of CEO Tony Smith, Restaurant365 offers a cloud-based solution that includes accounting, inventory, scheduling, payroll, and HR functions, specifically designed for the restaurant industry. The platform streamlines daily operations, enabling operators to manage food costs and optimize labor efficiently.
In the past year, Restaurant365 has enhanced its comprehensive platform by adding features such as tip automation, task management, restaurant intelligence dashboards, and Capture AI, which incorporates machine learning into invoice management. The platform’s integrations and open APIs allow seamless connections with other systems, including POS providers, vendors, and banks.
Additionally, Restaurant365 recently acquired ExpandShare, an AI-powered learning management system designed to deliver and track restaurant training content. The company also maintains an office in Austin, Texas.
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By Proptechbuzz
By Ravi Kumar
