– USA, CA – Restaurant365, the only cloud-based restaurant accounting software boasting an all-in-one restaurant management solution, has successfully closed an $88 million minority investment led by ICONIQ Capital, a leading Silicon Valley growth equity firm. Will Griffith, Partner at ICONIQ, will be joining Restaurant365’s board of directors. This is the third round of funding since January 2018 that has helped fuel Restaurant365’s rapid growth.
ICONIQ Capital leads this round of funding and is joined by Tiger Global Management and Bessemer Venture Partners. Posting its third consecutive year of doubled growth, Restaurant365 helps more than 10,000 restaurants maximize their profit every day with accurate, real-time reporting providing a clear view of restaurant performance.
“We are excited for ICONIQ Capital and Tiger Global to join us as we expand our product to solve more of the challenges facing restaurant operators today,” said Tony Smith, co-founder and CEO of Restaurant365. “They have track records of investing in companies that reshape industries, and we’re pleased that they’ve identified Restaurant365 as a leading force driving innovation.”
“The restaurant industry has long been underserved from a technology perspective. While many have recognized a need for innovation, Restaurant365’s unique vision and unrelenting approach to product development have yielded extraordinary results,” said Will Griffith, Partner, ICONIQ Capital. “I’m looking forward to joining the board and collaborating on their next phase of growth.”
This is Restaurant365’s third round of funding after closing nearly $40 million in Series A and Series B financing with a minority investment in January 2018 and January 2019.
Restaurant accounting is the cornerstone of Restaurant365 Software cloud-based, all-in-one restaurant management solution. Restaurant365 was founded by an experienced team of software veterans committed to developing an accounting, operations and reporting tool–specifically for restaurants–that scales and positions restaurant concepts for growth. The Restaurant365 connectors and open APIs truly enable the platform to “talk” with other systems including POS providers, payroll processors, vendors and banks. Backed by Bessemer Venture Partners, ICONIQ and Tiger Global Management. Restaurant365 is based in Irvine, California with an office in Austin, Texas.
For more information: https://www.restaurant365.com
About ICONIQ Capital
ICONIQ Capital is a privately-held financial advisory and investment firm, and a partner of choice for exceptional entrepreneurs, leaders, and institutions around the world. The firm invests in technology growth equity, middle market buyout, and real estate asset classes and employs a distinctive ecosystem to build enduring businesses. ICONIQ is a trusted advisor fostering meaningful strategic relationships across industries to source powerful ideas, magnify the global impact and support a new generation of entrepreneurs and companies.
For more information: https://iconiqcapital.com
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July 22, 2019
July 22, 2019