Friday, March 25, 2022

Restaurant365 Says Restaurants Seeing Rebound

Irvine-based restaurant management platform says that it is seeing a rebound in sales for its customers, as the COVID-19 pandemic goes into its third year. The company says that, for the average restaurant on its platform, food sales are about 7% higher than they were in 2019 and 34% higher than 2021, although it did cite issues with labor shortages and rising food costs. The company says tht its customers include Mongolian Concepts, Clean Eatz Corporate, Black Bear Diner, Luke's Lobster, and Freddy's Frozen Custard & Steakburgers. The startup is backed by Bessemer Venture Partners, ICONIQ, Tiger Global Management, and Serent Capital, and offers up cloud-based accounting, inventory, scheduling, payroll, and HR for the restaurant industry.