86 Repairs, a company that automates equipment repair and maintenance for restaurants, has raised $5.3 million to close out a seed funding round that now totals $7.3 million.
The latest infusion came from existing investors TDF Ventures, Gordon Foodservice and Cleveland Avenue, a group led by former McDonald's CEO Don Thompson. MATH Venture Partners and Revolution also pitched in.
The Chicago-based company aims to simplify the equipment repair process for restaurants by providing data and support teams who manage maintenance. They handle day-to-day maintenance tasks like troubleshooting and scheduling service providers, while also offering insights gleaned from their data.
"The operational insights provided by 86 Repairs are critical for restaurants to streamline their processes and save time and money," Thompson said in a statement.
86 said repairs can eat up as much as 3% of a restaurant's annual revenue, and that it has saved restaurants $2.2 million since it launched in 2018.
"86 Repairs has demonstrated solid and sustained growth by offering a first-of-its kind solution for a previously neglected problem," said Will Rayner, Principal, TDF Ventures. "We believe that the 86 model is primed to transform the market. We are doubling down on our investment to help the company seize this opportunity."
The company said it would use the new funding to keep growing after posting 146% year-over-year growth. Its clients include restaurant groups such as Castellucci Hospitality Group and 4 Rivers Smokehouse and brands like McDonald's and Jimmy John's.