California + Orange County + Hospitality | May 23, 2023

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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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