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Restaurant365 is a technology company.
Restaurant365 provides cloud-based restaurant management software, unifying accounting, operations, and workforce management. Its core product integrates inventory, scheduling, payroll, and financial reporting tools, specifically designed for the restaurant industry. This comprehensive suite streamlines processes, enabling data-driven decisions and fostering operational efficiency across establishments.
Founded in 2011 by Tony Smith, Morgan Harris, and John Moody, Restaurant365 addressed a critical market gap. They recognized the restaurant industry's unique operational and financial challenges. Tony Smith, leveraging his software background, spearheaded the creation of a purpose-built accounting engine tailored for this underserved sector.
Restaurant365 serves diverse restaurants, from independents to large enterprises, equipping them for enhanced profitability and operational control. Its vision empowers restaurant leaders to optimize every business aspect. By delivering integrated solutions, Restaurant365 aims to drive efficiency, increase sales, control costs, and ensure sustainable financial success.
Restaurant365 has raised $438.0M across 5 funding rounds.
Restaurant365 has raised $438.0M in total across 5 funding rounds.
Restaurant365 has raised $438.0M in total across 5 funding rounds.
Restaurant365's investors include Will Griffith, KKR, L Catterton, Jimmy Miele, Ian Friedman, Bessemer Venture Partners, ICONIQ Growth, Cedar Capital Group, Dragoneer Investment Group, Tiger Global, Brian Feinstein.
Restaurant365 (R365) is a leading SaaS company providing cloud-based restaurant enterprise management software that integrates accounting, operations, inventory, scheduling, payroll, and HR into a single platform. It serves multi-location restaurant chains and independent operators, solving the problem of fragmented systems by centralizing data from POS, banks, and vendors to reduce manual tasks, control food and labor costs, and drive profitability.[1][2][3] With over 52,000 locations relying on it, R365 has strong growth momentum, including acquisitions like Compeat in 2021 and $140 million in funding from investors such as Bessemer Venture Partners, ICONIQ Capital, and Tiger Global Management by 2019.[1][3][4]
Restaurant365 pioneered the Restaurant Enterprise Management (REM) category, launching its first solution in 2011 and achieving its initial release in 2012.[1] Headquartered in Irvine, California, the company emerged to address restaurants' need for industry-specific tools, moving them away from generic ERP systems toward a unified cloud platform.[1][2] Key milestones include uniting with Compeat and Ctuit in 2021 to expand capabilities in back-office, workforce, and business intelligence, alongside significant funding rounds that fueled its disruption of the restaurant tech space.[1][4]
Restaurant365 rides the wave of digital transformation in the $1 trillion+ U.S. restaurant industry, where operators face razor-thin margins amid labor shortages, rising costs, and post-pandemic recovery.[1][2] Its timing aligns with the shift to cloud SaaS and AI for back-office automation, bridging the historical gap between front-of-house operations and finance—previously siloed in disconnected tools.[6][7] Market forces like supply chain volatility and demand for real-time analytics favor R365, as it empowers chains to scale efficiently while independents compete via cost controls.[3] By setting the REM standard and fostering vendor ecosystems, it influences the ecosystem, enabling tech partners and accelerating industry-wide adoption of integrated, restaurant-specific software.[1][5]
Restaurant365 is poised for continued dominance as AI advancements and economic pressures push restaurants toward automated, data-driven operations. Expect deeper AI integrations for predictive forecasting, expanded international reach, and potential further acquisitions to bolster its ecosystem. Trends like workforce optimization amid labor challenges and sustainability-focused inventory will shape its path, evolving R365 from a disruptor to the indispensable backbone for profitable restaurant growth—transforming how operators thrive in a high-stakes industry.[3][9]
Restaurant365 has raised $438.0M across 5 funding rounds. Most recently, it raised $175.0M Other Equity in May 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 15, 2024 | $175.0M Other Equity | Will Griffith | KKR, L Catterton |
| May 19, 2023 | $135.0M Other Equity | Jimmy Miele, Ian Friedman | Bessemer Venture Partners, ICONIQ Growth |
| Jun 1, 2019 | $88.0M Series C | Will Griffith | Bessemer Venture Partners, Cedar Capital Group, Dragoneer Investment Group, Tiger Global |
| Jan 19, 2018 | $20.0M Series A | Brian Feinstein | |
| Jan 1, 2018 | $20.0M Venture Round | Bessemer Venture Partners, Cedar Capital Group, Dragoneer Investment Group |