Restaurant365 Agrees to $135M Funding Round
Restaurant365, a restaurant enterprise management software company, has agreed to a $135-million funding round co-led by global investment firms KKR and L Catterton with participation from current investors, including ICONIQ Growth and Bessemer Venture Partners.
“Anytime we receive funding, we recognize it as a privilege,” said Tony Smith, CEO of Irvine, CA-based Restaurant365. “However, the primary driver of this round is uniting with two strategic investors so intimately tied to the restaurant industry. Having recently crossed exciting milestones of $100 million in revenue and $1 billion in value, we can’t wait for what’s next.”
The investment is from KKR’s Tech Growth strategy and L Catterton’s Growth Fund.
“Restaurant365 has demonstrated compelling growth throughout its history, now powering more than 40,000 restaurant locations,” said Jimmy Miele, director, Tech Growth at KKR. “Moreover, their software has played a crucial role in helping many struggling operators keep their doors open during uncertain times.”