Hayward, California-based point-of-sale (POS) connectivity platform company Omnivore Technologies announced it has raised $10 million in Series A funding. Omnivore enables hundreds of third-party technologies to integrate with diverse point-of-sale systems.
The lead investors in this round include The Coca-Cola Company and Performance Food Group. And additional funds were provided by Jeff Vinik (Tampa Bay Lightning owner). Existing follow-on investors from previous rounds also contributed to this round. The company will be using the round of funding to accelerate current development and growth of proprietary Omnivore products.
Photo Credit: Omnivore Technologies
“We clearly understand that the growth in the restaurant and hospitality industry is pinned to consumer and staff expectations of technology and how they use it, very similar to what happened with the travel, lodging, and retail industries,” said Omnivore CEO Mike Wior in a statement. “We’ve enjoyed playing a role enabling innovation and integration in all restaurant technology categories such as online ordering, third party delivery, pay at the table, loyalty, and labor. We will continue to enable the industry in these areas while adding new capabilities and ensuring agility and affordability.”
Omnivore is going to complement their universal API with two platforms: data warehousing and central menu management. These platforms are being designed to help restaurant brands analyze and execute at a faster pace with less expense and friction. And the Omnivore data product is going to enable restaurants to access, distribute, and leverage data more efficiently.
“PFG continues to leverage data and consumer insights to add value to our restaurant customers,” added PFG Executive Vice President and Chief Financial Officer Jim Hope. “Our new partnership with Omnivore will enable our customers to gain better access to their data, while taking meaningful technologies to our customers that address opportunities to enhance the customer experience.”
Omnivore’s new menu management system will benefit restaurant operators and technology providers by addressing the complexity of managing dozens of digital menus across online ordering, third-party delivery apps, digital menus, kiosks, etc. This smoothens out the operational challenges that come with multiple third-party technology partners that all have digital menu dependencies.
“As a part of ‘The Coca-Cola Commitment,’ we continuously seek out innovation, insights and technology that can create new value for the industry and serving future consumers,” explained Andy McMillin, the CMO of the Food Service Business unit at Coca-Cola. “Omnivore’s universal API, centralized menu management solution, data warehousing solution and marketplace of technologies facilitates the agility to experiment, optimize challenges and execute even faster.”
