Restaurant365 Receives $88M in Funding Led by ICONIQ Capital
Restaurant365®, the cloud-based restaurant accounting software with an all-in-one restaurant management solution, has successfully closed an $88 million minority investment led by ICONIQ Capital, a leading Silicon Valley growth equity firm. Will Griffith, Partner at ICONIQ, will be joining Restaurant365’s board of directors. This is the third round of funding since January 2018 that has helped fuel Restaurant365’s rapid growth.
ICONIQ Capital leads this round of funding and is joined by Tiger Global Management and Bessemer Venture Partners (BVP led Restaurant365’s Series A and Series B funding). Posting its third consecutive year of doubled growth, Restaurant365 helps more than 10,000 restaurants maximize their profit every day with accurate, real-time reporting providing a clear view of restaurant performance.
“We are excited for ICONIQ Capital and Tiger Global to join us as we expand our product to solve more of the challenges facing restaurant operators today,” said Tony Smith, co-founder and CEO of Restaurant365. “They have track records of investing in companies that reshape industries, and we're pleased that they’ve identified Restaurant365 as a leading force driving innovation.”
“The restaurant industry has long been underserved from a technology perspective. While many have recognized a need for innovation, Restaurant365’s unique vision and unrelenting approach to product development has yielded extraordinary results,” said Will Griffith, Partner, ICONIQ Capital. “I'm looking forward to joining the board and collaborating on their next phase of growth.”
This is Restaurant365’s third round of funding after closing nearly $40 million in Series A and Series B financing with a minority investment in January 2018 and January 2019. For more information about Restaurant365, visit www.Restaurant365.com.