Restaurant365, an Irvine, Calif.-based cloud-based restaurant accounting software provider, closed an $88m third round of funding.
The round ws led by Iconiq Capital, joined by Tiger Global Management and Bessemer Venture Partners. In conjunction with the funding, Will Griffith, Partner at Iconiq, will be joining Restaurant365’s board of directors.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Tony Smith, co-founder and CEO, Restaurant365 provides more than 10,000 restaurants with a cloud-based restaurant accounting software platform which features connectors and open APIs to enable the platform to “talk” with other systems including POS providers, payroll processors, vendors and banks.
The company also has an office in Austin, Texas.
This is Restaurant365’s third round of funding after closing nearly $40m in Series A and Series B financing with a minority investment in January 2018 and January 2019.