Restaurant365, an Irvine, Calif.-based restaurant-specific accounting, back office, and reporting solution provider, closed $20m in Series A financing.
Bessemer Venture Partners made a minority investment. In conjunction with the funding, Brian Feinstein, Partner at Bessemer Ventures Partners, joined Restaurant365’s board of directors.
The company intends to use the funds to extend its reach to more restaurants nationwide.
Founded in 2011 by Morgan Harris, John Moody and Tony Smith (CEO), Restaurant365 provides a cloud-based restaurant-specific platform featuring accounting, operations and reporting capabilities. The platform is mobile and runs on both PC and Mac. The connectors, import functions and Open APIs truly enable Restaurant365 to “talk” with other systems including POS providers, payroll processors, vendors and banks.
The company has customers in all restaurant segments including: Fine Dining, Casual Dining, Family Dining, Fast Casual, Quick Service and Snack. The customer base is also structurally diverse including independents, franchisors, franchisees, CPA firms and bookkeeping services. Among others, Restaurant365 has served Sbarro, MOD Pizza, Capriotti’s Sandwich Shop, Texas de Brazil, Luke’s Lobster, Freddy’s Frozen Custard & Steakburgers, Ono Hawaiian BBQ, Blaze Pizza, California Fish Grill, Walk-On’s Bistreaux & Bar, Lascari’s Italian.