Seated, a NYC-based restaurant rewards platform for restaurants, raised $30m in funding and acquired digital event booking platform VenueBook.
Building upon its success in New York City, Boston, Chicago, and Atlanta markets, this acquisition of VenueBook expands Seated’s presence to the New York tri-state area, Denver, San Francisco and Bay area, and Washington, D.C. and the surrounding region. The company will also work with VenueBook’s stable of 120,000 professional event planners who can now book clients’ events on the platform.
The funding was led by Insight Partners with participation from Craft Ventures, Greycroft, and Rho Capital Partners. The capital is used to further build out its platform and improve performance and capabilities for new product developments.
Launched in 2017 by Bo Peabody, Executive Chairman, and Brice Gumpel, CEO, Seated provides restaurants with tools to drive sales by offering tangible rewards to consumers dining-in, ordering takeout or delivery, and booking private events. Through its rewards platform, it has filled more than 900,000 seats, generated $7 million in tips for wait staff, and $37 million in revenue for restaurants to date. Its takeout and delivery offering Seated at Home helps restaurants drive demand and compete against predatory delivery apps. The company’s newest offering, Seated Events, allows groups wanting to take extra precautions to book private rooms while dining in. In return for dining or ordering through Seated, consumers receive a portion of their spend back in Seated rewards, which can be redeemed for gift cards with popular brands like Amazon, Starbucks, Sephora, and many more.