Restaurant rewards company Seated raised $30 million and acquired events booking platform VenueBook, the company announced Tuesday.
The acquisition marks a move into the private events business for Seated, a reservation platform that offers rewards for users. During the pandemic, Seated added pickup and delivery capabilities with a new service called Seated at Home, and under the newly created Seated Events arm, guests will be able to get rewards by booking private events as well.
Users can redeem the rewards for gift cards to brands such as Amazon and Starbucks.
“We are thrilled to be able to offer yet another way for restaurants to maximize their profitability. With Seated Events, Seated at Home, and Seated, restaurants can drive demand to their three primary sources of revenue in a single, easy to use rewards platform,” said Bo Peabody, executive chairman and co-founder of Seated, in a statement.
The acquisition also expands Seated’s geographic footprint into the New York tri-state area, Denver, the Bay Area and Washington, D.C. It currently operates in New York City, Boston, Chicago and Atlanta.
The $30 million in funding was led by venture capital firm Insight Partners, with other contributions from Craft Ventures, Greycroft and Rho Capital Partners. The company said it would use the money to build out its platform and improve new products.