With second round of funding, Restaurant365 to increase footprint in restaurant management
IRVINE, Calif. (March. 14, 2019) — Restaurant365®, a cloud-based restaurant accounting and operations software provider, has successfully closed a $19.5 million minority investment from Bessemer Venture Partners (BVP), which will be used to advance its software and invest in engineering teams. This is the second round of funding from BVP that has been instrumental in the rapid growth of the accounting software pioneer.
With the new funding, Restaurant365 leadership continues the software’s expansion of features and growth of its client base via the visibility and efficiency gained by having Restaurant365 as the accounting, operations and reporting hub of their organizations.
“At Restaurant365 we put customers first by providing two things: a next generation product to advance their business and world class support,” said Tony Smith, co-founder and CEO of Restaurant365. “We’ll use these funds to advance both of those areas as well as increase our marketing and sales teams to carry our message to more restaurants that we can help grow.”
This is Restaurant365’s second round of funding from Bessemer Venture Partners after closing $20 million in Series A financing with a minority investment in January 2018. For more information about Restaurant365, visit www.Restaurant365.com.
Restaurant accounting is the cornerstone of Restaurant365® Software cloud-based, all-in-one restaurant management solution. Restaurant365 was founded by an experienced team of software veterans committed to developing an accounting, operations and reporting tool–specifically for restaurants–that scales and positions restaurant concepts for growth. The Restaurant365 connectors and open APIs truly enable the platform to “talk” with other systems including POS providers, payroll processors, vendors and banks. After closing a $20 million in Series A financing with a minority investment from Bessemer Venture Partners (BVP) in January 2018, Restaurant365 closed a second $19.5 million in Series B financing with BVP in February 2019, which will be used to expand the team and accelerate development. Restaurant365 has offices in Irvine, California and Austin, Texas. For more information, please visit Restaurant365.com.