Online ordering and marketing provider Popmenu is the latest company to cash in on the restaurant tech boom, announcing Friday that it had raised $65 million in a funding round led by big tech investor Tiger Global Management.
Popmenu offers website design, online ordering and automated marketing tools as well as a unique interactive menu product that allows customers to "like" dishes and leave reviews. It works with more than 5,000 independent restaurants and hospitality groups and offers both on- and off-premise ordering channels.
The company said it would use the funding to speed up development of its all-in-one Popmenu Max platform.
"Today’s restaurant owners struggle to manage several providers and subscriptions. Popmenu Max removes the complexity from a restaurant’s tech stack with an all-in-one approach that simplifies operators' lives, allowing them to decide how high-tech they want the experience to be," said Brendan Sweeney, Popmenu CEO and co-founder, in a statement.
Atlanta-based Popmenu is the latest company to land an investment for technology that helps restaurants drive first-party orders. Flipdish, a Dublin-based provider that offers similar services, raised $48.5 million earlier this year in a round also led by Tiger Global. Other recent examples include Tock (acquired by Squarespace for $400 million), pizza-focused Slice ($40 million fundraise) and Promenade, owner of Dig-In and Swigg ($11 million fundraise).
"We are thrilled to be partnering with Popmenu as they continue to build momentum through an incredibly well-differentiated product that thousands of customers truly love," said John Curtius, partner with Tiger Global, in a statement. "We think we're still in the early days of this global shift in restaurant tech, and we strongly believe the Popmenu team is best positioned to capitalize on it."
Salesforce Ventures, the investment arm of marketing and sales company Salesforce, also participated in the funding round, expressing enthusiasm for the company's vision.
"Seeing this product in action, it's so clear and obvious that what Popmenu is building is incredibly valuable and will change the way restaurants manage their whole business," said Alex Kayyal, a partner with Salesforce Ventures, in a statement. "We meet lots of companies but rarely is the vision and value proposition so clear."
The Series C round follows a $17 million fundraise in October.