Restaurant365 Raises $175 Million in Funding
Restaurant365, an Irvine, CA-based all-in-one restaurant enterprise management platform, has raised a $175 million funding round.
The round was led by ICONIQ Growth, with participation from existing investors KKR and L Catterton.
ICONIQ Growth partners with visionaries defining the future of their industries to transform the world. Their investment platform and unique ecosystem help amplify its portfolio companies' success from the early growth stage to IPO and beyond.
The company will use the funding towards expanding enterprise features and enhancing the workforce and payroll product suite to continue serving the world's largest hospitality brands. Additionally, funds will bolster the company's balance sheet to facilitate future acquisitions and sustain organic growth.
Restaurant365 provides an all-in-one, cloud-based accounting, inventory, scheduling, payroll, and HR solution developed specifically for restaurants. Its restaurant enterprise management software simplifies day-to-day management for operators, allowing them to control food costs and optimize labor. Integrations and open APIs enable Restaurant365 to connect with other systems, including POS providers, vendors, and banks. The result is accurate, timely reporting that provides a clear and complete view of their businesses. Restaurant365 is based in Irvine, California with an office in Austin, Texas.
Funding Details
Company: R365, Inc.
Raised: $175.0M
Round: Unknown
Funding Month: May 2024
Lead Investors: ICONIQ Growth
Additional Investors: KKR, L Catterton
Company Website: https://www.restaurant365.com/
Software Category: Restaurant Software