Proceeds will fuel development and growth
Restaurant Revolution Technologies, Inc. (Revolution) has completed its Series B round of funding, bringing the restaurant-specific SaaS (software as a service) company’s total funding to date to $23.5 million. James A. Cutri, a private angel investor, led the funding round, which included previous investors. The new use of proceeds is slated to drive growth through continued software development and innovation, strategic partnerships, marketing and sales related initiatives.
Revolution also recently announced the hiring of Brad Duea, a former Sonos, T-Mobile and Napster executive, as Chief Executive Officer. Mr. Duea has been leading the company’s new strategic direction to capitalize on the off-premise opportunity (takeout, delivery, catering) and was also primarily responsible for spearheading the recent Series B round of funding.
“Revolution continues to evolve as a powerful innovator of off-premise technology and services for restaurants in a time when restaurant traffic is migrating from dining-in to off-premise – in particular online ordering and delivery,” said Brad Duea, CEO of Revolution. “The new funding allows us to continue to innovate and enhance our Order One platform and related services to powerfully address the enormous off-premise opportunity. As the off-premise partner for restaurants, Revolution remains committed to providing restaurants the most comprehensive direct, omni-channel ordering capabilities for takeout and delivery with the best overall experience for the customer.”
“Revolution’s offering is well-timed with the rapidly increasing demand for solutions that help restaurants build a direct off-premise offering to satisfy consumers’ desire for convenience,” said James Cutri. “Revolution’s Order One platform, with its delivery enablement capabilities, is a powerful solution for the industry and I am excited to collaborate with Brad and the team as they work to build a great company in an exciting category.”
“All of us at Revolution are grateful for the support of our investors and are excited for what’s in store for 2018. We are well poised for substantial growth which is a direct result of our unwavering passion to support our restaurant partners in their pursuit of growth related to the off-premise opportunity,” said Duea.
With this investment, Mr. Cutri has joined Revolution’s Board of Directors. Further financial terms of this deal have not been disclosed.
Restaurant Revolution Technologies, Inc. (Revolution) is a SaaS (software as a service) company and is the off-premise partner for restaurants. Revolution licenses its powerful, omni-channel ordering software platform, called Order One, to restaurant partners across North America. In addition to licensing software, Revolution also provides related services, such as live phone support, real time order monitoring and issue resolution, delivery enablement through leading national delivery providers, data capture and analytics and demand creation. Revolution and its Order One platform enables customers of its restaurant partners to easily order meals from any channel—online, mobile, voice, chat–and have them conveniently delivered or made available for takeout. Visit us online at: www.rrtusa.com