SaaS company Restaurant365 has secured $175 million in a funding round. This investment will support its continued sales growth, product innovation, and acquisitions.
Restaurant365 (R365), an all-in-one restaurant enterprise management platform, announced a $175 million funding led by ICONIQ Growth with participation from current investors KKR and L Catterton.
According to the press release, the funding will be invested in expanding enterprise features and growing the workforce and payroll product suite to continue supporting hospitality brands. Also, it will strengthen Restaurant365’s balance sheet to facilitate future acquisitions and support continued organic growth.
Tony Smith, CEO and Co-founder of R365 shared: “We’re grateful our investors continue to value the business and its upward trajectory as demonstrated by this most recent vote of confidence. We take that trust from them seriously as well as the trust placed in us by our customers and the industry at large. We will continue our relentless pursuit of developing products that add value in new ways to this great industry.”
Will Griffith, founding Partner of ICONIQ Growth said “Restaurant365’s growth is a testament to their ability to create powerful solutions that bolster operations, improve margins, and empower the workforce at restaurant companies of all sizes. We’re honored to participate in this incredible opportunity to help the restaurant industry succeed in a way that once seemed impossible.”
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About Restaurant365:
Restaurant365 is an all-in-one cloud-based accounting, operations, workforce, and intelligence solution specifically for restaurants. By providing real-time insights and analytics, the platform streamlines the complexities of running a restaurant and improves profitability. R365 is trusted by more than 40,000 restaurants nationwide.
R365 has recently acquired ExpandShare, an AI-powered learning management system (LMS) specifically built for restaurants to deliver and track engaging, impactful training content quickly and easily across platforms.
(Image Credit: Restaurant365)
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