ResQ, the restaurant repair and maintenance marketplace platform, announced a $7.5M in seed funding from top-tier investors bringing the total capital raised to $9M. This investment is being used to propel growth and help the fast-growing restaurant tech disruptor optimize back-of-house operations for restaurants with a focus on driving down operational costs.
With restaurants focused on cost savings and hiring, picking the right back-of-house technology platform can carry big savings. On average, restaurants spend 3-5% of annual sales on repairs and maintenance. Through its SaaS-enabled marketplace, ResQ has saved 10-30% in annual repairs and maintenance spend for restaurants on its platform through a combination of: competitive marketplace rates on services, over 70% increase in productivity through process and communication improvements at scale."
"Repairs and maintenance is very resource-intensive which impacts top and bottom lines if not managed effectively. ResQ has been a powerful platform for us to offload our headaches and handle our repairs and maintenance, so our team can be focused on scaling our operations and growing the business. ResQ has saved us a significant amount in operational costs and time savings." says Shehzad Janmohamed, CEO of Soul Foods Group, one of the global franchise groups of Yum! Brands.
As a marketplace platform, ResQ offers service contractors revenue growth opportunities through ResQ's large restaurant customer base.
Over the last 12 months, ResQ has experienced 750% growth in revenue, tripled the size of its team, and launched in eight new markets across the US and Canada. ResQ recently launched in San Francisco following the success and traction the company built in LA, Dallas, Chicago, and Phoenix, amongst other US and Canadian markets.
ResQ empowers restaurants with easy-to-use software to request, manage and pay for repair and maintenance services all in one place while providing data and insights to empower better decision making.
ResQ is trusted by over 3,000 leading global restaurant groups in quick-service and full-service sectors including KFC, Taco Bell, Pizza Hut, Wendy's, Arby's, The Keg, Cactus Club Cafe, CRAFT, Paramount, Franworks, Fresh and Tim Hortons.