Restaurant Revolution Technologies, Inc., known as Revolution, has closed its Series B funding round. The restaurant-focused software-as-a-service company has now raised $23.5 million in total. Private angel investor James A. Cutri led the round, while earlier investors took part as well.
The money will go toward growth. Revolution plans to spend it on further software development and innovation, strategic partnerships, and marketing and sales.
The company also recently hired Brad Duea as Chief Executive Officer. Before that, he held executive roles at Sonos, T-Mobile and Napster. Since joining, he has steered Revolution toward the off-premise market, meaning takeout, delivery and catering. He also drove most of the work on the Series B round.
Duea said restaurant traffic is moving away from dining in. Instead, more orders now happen off-premise, especially online ordering and delivery. According to him, the new funding lets Revolution keep improving its Order One platform and related services. He described Revolution as the off-premise partner for restaurants. Its goal, he said, is complete direct, omni-channel ordering for takeout and delivery, with the best possible customer experience.
Cutri said the timing is right, because demand is rising fast for tools that help restaurants sell off-premise directly. Consumers want convenience, he noted. He called Order One, with its delivery features, a powerful solution for the industry. He also said he looks forward to working with Duea and the team.
Duea added that everyone at the company is grateful to its investors and excited about 2018. In his view, Revolution is set for strong growth. That growth, he said, comes from its drive to help restaurant partners win more off-premise business.
As part of the deal, Cutri has joined Revolution’s Board of Directors. However, other financial terms were not disclosed.
Revolution licenses Order One to restaurant partners across North America. On top of the software, it offers live phone support as well as real-time order monitoring and issue resolution. Delivery runs through leading national delivery providers. It also handles data capture, analytics and demand creation. With Order One, diners can order online, by mobile, by voice or through chat. Then they can pick up the meal or have it delivered.
