Restaurant365 is a restaurant enterprise management software that offers a comprehensive back office solution for restaurants, including cloud-based accounting, inventory management, scheduling, payroll, and HR. With the software’s inventory management tools, restaurants can track inventory levels in real-time, set alerts for low inventory, and manage vendor relationships with ease.
The funding round, led by investment firms KKR and L Catterton, has brought Restaurant365’s valuation to above $1 billion. Previous investors ICONIQ Growth and Bessemer Venture Partners also participated in the new funding round. The fresh funds will be used to improve Restaurant365’s product offering and expand its market share. In total, the company has raised $262 million till that moment.
Restaurant365, Irvine, California, United States, was founded in 2011 by John Moody, Morgan Harris, and Tony Smith. The company currently serves over 40,000 restaurant locations and has surpassed $100 million in revenue. Restaurant365’s software provides restaurants with a holistic view of their businesses, enabling them to increase sales, control food costs, and optimize labor.