US-based Bbot, a hospitality tech startup dedicated to simplifying and improving the ordering and payments process for restaurants, raised US$ 15 million in Series A funding round on 22 July 2021.
Investors: The funding round was led by CRV. Bbot has raised a total of US$ 22.2 million to date.
Purpose of the funding: The funds raised will be used by Bbot to build its e-commerce platform and meet the growing demand from developers who are looking to code their own extensions and applications. Bbot will work on features for food halls and virtual brands. It will also finalize and launch a self-service Bbot app store which will allow developers to immediately get started using Bbot’s existing platform to code their own extensions and apps.
Founded in 2017 by Greg Jaworski, Luke Allen and Steven Simoni, Bbot offers a configurable solution for restaurants, bars, hotels, cinemas and other hospitality organizations to create digital menus and provide guest-controlled, contactless ordering and payment. Bbot aims to help them simplify their operations with in-venue and online ordering.
With Bbot’s platform, restaurants and independent hospitality businesses have been able to adapt to the changes accelerated by the pandemic like contactless ordering and payments. The company claims to have added over 700 customers and reached 85 employees across 14 states. It has experienced a 700% year-over-year growth.
What the CEO has to say: “Restaurateurs are always looking for new ways to provide excellent hospitality experiences. The way guests want to order and pay has changed forever, and the need for innovative technology that can help business owners compete in today’s digital world affordably and easily is crucial. With this funding, we will continue to invest in creating the most advanced technology platform so our customers can focus on providing high-quality hospitality experiences, instead of worrying about the tools and integrations.” — Steve Simoni, CEO and co-founder of Bbot.
What the investors have to say: “Bbot has unique insight into the rapidly changing hospitality industry. Their vision expands beyond the traditional POS industry, into a fully integrated software and payments platform enabling order and pay for the first time. This functionality enables hospitality operators and software developers to easily introduce features that are being demanded by their patrons and customers. With this latest round, Bbot will deepen its talented bench with key hires and provide additional product enhancements to support the rapidly growing customer base.” — Reid Christian, General Partner at CRV.
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