(News Bulletin 247) – Restaurant365 today announced that it has agreed to a $135 million funding round co-led by investment firms KKR and L Catterton, with participation from current investors including ICONIQ Growth and Bessemer Venture Partners.
Restaurant365 is transforming the restaurant business by providing operators with solutions to increase sales, control costs and optimize labor. Its software suite brings together accounting, operations and payroll processes into one cloud-based technology.
“Having recently reached the exciting milestones of $100 million in revenue and $1 billion in value, we’re excited for what’s next,” said Tony Smith, CEO and co-founder of Restaurant365.
“Restaurant365 has demonstrated compelling growth throughout its history, today powering more than 40,000 restaurants,” said Jimmy Miele, director of technology growth at KKR.
Proceeds from this round will be invested in product enhancements to ensure the product suites continue to meet the evolving needs of the restaurant industry, while increasing its market share.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
