Restaurant365 provides an all-in-one platform that consolidates accounting, inventory management, payroll and employee scheduling, plus analytics — essentially everything except point-of-sale transactions. The software is used by independent restaurants and larger chains, and the company says it is building additional tools to serve major hospitality brands. Restaurant365 reported usage in 40,000 locations and was reportedly set to generate $100 million in 2023, with per-location pricing starting at $469 per location per month. The founders launched the company in 2011 after immersing themselves in restaurant operations to design a consolidated solution to fragmented point products. Management says it invests heavily in product development and research and pursues acquisitions that add customer value, having acquired training platform ExpandShare in April. The market is crowded with point solutions and rivals such as Toast, Lightspeed and Crunchtime, but Restaurant365 positions itself as a restaurant-specific, all-in-one alternative. Restaurant365 offers an integrated software platform for restaurants that handles accounting, analytics, staff and inventory management. Its product is used across roughly 40,000 locations by small businesses, franchises, chains and accounting firms serving restaurants. The company reported about $100 million in annual revenue and has surpassed an enterprise value of over $1 billion. It says it will use the new funding to continue developing product across those core areas. Restaurant365 emerged as a provider that helped operators during the pandemic and competes with firms such as Toast, Lightspeed, Square and PayPal. The company is based in Irvine, California and was founded in 2011. Restaurant365 offers a cloud-based restaurant accounting software platform with connectors and open APIs to integrate with POS providers, payroll processors, vendors and banks. The platform is used by more than 10,000 restaurants. Led by co-founder and CEO Tony Smith, the company centralizes accounting workflows for restaurant operators. It maintains offices in Irvine, Calif., and Austin, Texas. Restaurant365 intends to use new funding to expand operations and broaden its business reach. Financially, it closed an $88M third round of funding in June 2019 after previously raising nearly $40M in Series A and Series B financings. Restaurant365 provides a cloud-based restaurant-specific platform offering accounting, operations and reporting capabilities. The platform, founded in 2011 and based in Irvine, Calif., is mobile and runs on both PC and Mac. Its connectors, import functions and Open APIs enable integrations with POS providers, payroll processors, vendors and banks. The company serves customers across all restaurant segments including fine dining, casual dining, family dining, fast casual, quick service and snack. Its customer base is structurally diverse—independents, franchisors, franchisees, CPA firms and bookkeeping services—and named customers include Sbarro, MOD Pizza, Capriotti’s Sandwich Shop, Texas de Brazil, Luke’s Lobster, Freddy’s Frozen Custard & Steakburgers, Ono Hawaiian BBQ, Blaze Pizza, California Fish Grill, Walk-On’s Bistreaux & Bar and Lascari’s Italian. The company said it will use the $20m Series A to extend its reach to more restaurants nationwide.

Total raised

$418M

Funding rounds

4

Latest round

Equity

Latest activity

May 2024