Restaurant365 – an all-in-one restaurant enterprise management software – announced recently it has agreed to a $135 million funding round co-led by global investment firms KKR and L Catterton with participation from current investors, including ICONIQ Growth and Bessemer Venture Partners.
Restaurant365 has been transforming the restaurant industry by providing operators with innovative solutions to increase sales, control food costs, and optimize labor. And the company’s software suite brings key accounting, operational, and payroll-based processes together into a single and cloud-based technology.
What the funding will be used for: The proceeds from the round will be invested into product enhancements to ensure that Restaurant365’s Accounting, Store Operations, Workforce, and Intelligence product suites continue to meet the evolving needs of the restaurant industry while also expanding its market share.
“R365 has achieved continuous, accelerated growth, which is a testament to our strong team who is eager to change the restaurant industry for the better. Anytime we receive funding, we recognize it as a privilege. However, the primary driver of this round is uniting with two strategic investors so intimately tied to the restaurant industry. Having recently crossed exciting milestones of $100 million in revenue and $1 billion in value, we can’t wait for what’s next.”
— Tony Smith, CEO and Co-Founder of Restaurant365
“Restaurant365 has demonstrated compelling growth throughout its history, now powering more than 40,000 restaurant locations. Moreover, their software has played a crucial role in helping many struggling operators keep their doors open during uncertain times. We look forward to being a part of this next chapter, helping even more operators achieve their highest potential.”
— Jimmy Miele, Director, Tech Growth at KKR
“L Catterton has deep experience investing in world-class restaurant brands globally. With deep insight into the everyday pain points of restaurant operators, we believe Restaurant365 is the gold standard in the industry, helping to streamline operations and boost profitability, and we are proud to leverage our consumer and technology investing experience as a partner to Tony and the team.”
— Ian Friedman, Partner at L Catterton who will join Restaurant365’s board
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