Reserve raises one other $10M and plans new software program for eating places
Reserve, a startup providing desk and buyer administration instruments for eating places, is saying that it has raised $10 million in Sequence B funding.
When the corporate first launched in 2014, it billed itself as a “digital concierge” that may make it simpler for diners to get reservations at prime eating places. Final 12 months, it launched a brand new product referred to as Reserve for Eating places, permitting these eating places to handle all their tables, preserve a database of buyer data and settle for reservations on their very own web sites.
Subsequent up, in line with co-founder and CEO Greg Hong, is the launch of a brand new, “best in class” desk administration product within the second quarter of 2017.
It’d appear like Reserve’s focus has shifted from its eating app to restaurant software program (and definitely its enterprise mannequin has shifted from charging diners per reservation to charging eating places a flat month-to-month charge), however Hong mentioned it’s all a part of the identical imaginative and prescient. He admitted that first, he “didn’t fully have my arms wrapped around that alignment with those restaurant communities,” which is why the corporate’s put such a concentrate on constructing out instruments for these eating places. However he additionally mentioned Reserve has at all times been a “two-sided marketplace” that should serve each eating places and diners.
“Every time we build a better tool on one side … that benefits both sides of the market,” Hong mentioned.
The corporate can be saying its nationwide launch, which implies that eating places anyplace in the USA (not simply in cities like New York, San Francisco and Los Angeles) can use Reserve’s software program. Reserve says it has already been utilized by greater than 500 eating places to seat practically 9 million diners.
Reserve was incubated at Expa, the “startup studio” created by StumbleUpon and Uber co-founder Garrett Camp, and the connection continues, with Expa Capital main the Sequence B. First Spherical, Human Ventures (a agency created by Reserve co-founder Joe Marchese) and others additionally participated within the new funding. Reserve has now raised greater than $27 million whole.