Spotluck, a Washington, D.C.-based provider of a tech optimaztion platform for restaurants, closed $4.8m in Series A financing.
The round was led by JOBI Capital, with participation from New Dominion Angels and existing investor RANK Capital Group.
The company intends to use the funds to bolster its presence in its current markets, strategically expand to new cities, and most importantly, evolve its product and technology stack.
Founded in 2014 Led by CEO Cherian Thomas, Spotluck provides proprietary technology that gamifies restaurant discovery while bringing dynamic pricing to the restaurant industry. Users learn about new restaurants and get access to discounts that range from 10%-35% off.
The iOS & Android app is free for users and the restaurant discounts fluctuate based on factors like day, time and weather, working under the premise that dining out should cost less on a rainy Monday night than on a busy Friday night. These dynamic discounts provide restaurants more business when they need it most.
Over 1,200 restaurants throughout the D.C. metropolitan area, Philadelphia, Baltimore, and New York currently participate with Spotluck.