Chicago-based restaurant tech company 86 Repairs raised USD 15.2 million in the latest funding. The Series A round took place on July 26, 2022. Silicon Valley-based Storm Ventures led the financing for the firm. 

Savory Fund, Lightbank, TDF Ventures, Gordon Food Service (GFS), Cleveland Avenue, MATH Venture Partners, and others also participated in the round.

Purpose of Funding for 86 Repairs

With the latest capital infusion, 86 Repairs seeks to drive product innovation and further enhance its offerings. Besides, the platform aims at three-times year-over-year (YoY) revenue growth.

Previously in 2021, the platform closed its seed funding at USD 5.3 million. TDF Ventures, Gordon Food Service (GFS), MATH Venture Partners, Cleveland Avenue, and Revolution’s Rise of the Rest Seed Fund led the financing back then for the firm.

So far, the company’s total investment stands at USD 24 million.

What the CEO has to say

Daniel Estrada, Co-Founder and CEO of 86 Repairs, “We’re living through the most challenging period in the history of the restaurant industry, and our customers constantly inspire me with their creativity and grit as they navigate this new reality. I’m proud of the value we’re providing through the 86 Repairs platform. I’m excited to continue expanding our reach with the support of our world-class investors and team.”

What the investors have to say

Commenting on the recent funding round, Pascale Diaine, Partner at Storm Ventures, said, “86 Repairs is changing how restaurant operators address this long-standing pain point. When we saw how the market has responded to their solution, we understood that something very special is happening at 86 Repairs, with a seismic impact on the industry.”

In addition, Andrew Smith, Managing Director at Savory Fund, said, “As restaurant operators ourselves, we know how difficult managing R&M can be. We were never able to find a good solution to help us manage and support such a large part of our business until we became an 86 Repairs customer. I’ve seen firsthand how this solution streamlines day-to-day operations, becoming a must-have technology for our operational service teams.”

About 86 Repairs

In 2018, Daniel Estrada and Joe Gallagher brought the company into existence. 86 Repairs caters as the repair and maintenance management platform built for the restaurant industry. It offers restaurants and other commercial kitchen operators 24*7 365 days availability for on-demand repair management, preventative maintenance solutions, and access to data-driven insights on repair and maintenance (R&M) spend. Over 2,000 restaurant operators in the U.S. and Canada currently use the company’s service. Its clientele boasts giants such as Boka Restaurant Group, Castellucci Hospitality Group, 4 Rivers Smokehouse. It also se r ves quick-service brands, including McDonald’s, Jimmy John’s, Sonic Drive-Ins, and Taco Bell, and many others.

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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