Acelerate, an Infratech startup that aims to support restaurants make the most out of their infrastructure, has sealed $14.44 million in a Series A financing round led by Sequoia Capital, the startup announced on July 14, 2021.
About the Startup
Chicago-based startup Acelerate was founded in 2018 by George Jacobs. He spent most of his early life working in his family’s pizzeria. Later hit with the realisation that there was an opportunity beyond his family eatery to help all sorts of restaurants surge the tech roar, George attended USC intending to get a business degree and expand Georgee’s Pizza.
Succeeding that, he worked at Doordash for some years, where the idea of Acelerate was put in thought as a startup operating to give restaurants a direction to make the most of their infrastructure.
The initial outline of the business that the startup emits is a simple software solution that enables restaurants to run their entire digital footprint, from order control, pricing, modifications of the menu, and updates to sales and retailing. The concept is that countless restaurants that are marketing through their brick-and-mortar location can also expand through a group of other platforms like Uber Eats, Doordash, or Seamless—added to that, their restaurants are listed on OpenTable, Yelp, and other marketing stands. Also, Acelerate’s SaaS product enables restaurants to run all of these platforms from one individual spot.
In addition to the services, Acelerate has formed seven established restaurant brands, all with their menus. They license those brands as a whole, starting from the cooking instructions, recipes, and training design to restaurants that fancy offering more within their online sales portals.
What the CEO has to say
The startup’s latest funds will be utilised for the growth of the organisation and product. Acelerate, currently running with 11 full-time employees, wherein half are women or underrepresented minorities, according to Jacobs.
“The great opportunity lies in the union of the two exceptional bits of operating a restaurant; tech and operations,” said the founder, Jacobs. “To execute that, we think that proximity is power, and we call to be as close to our clients as possible. That’s why we’re doubling down on increasing local units and ensuring that we’re hands-on with our operator and restaurant partners”, he added.
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