Bite, a provider of kiosk solutions for the foodservice industry, has raised $9m in its Series A funding round.
The funding round was spearheaded by Staley Capital and saw contributions from Graham Partners, Food-X, One Way Ventures and Tamarisc Ventures.
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The investment supports the company’s growth and enhances its digital ordering systems for fast casual and quick service restaurants.
Bite’s self-service kiosk software is customisable and user-friendly, offering seamless integration with existing technology infrastructures.
Its solutions improve order accuracy, increase throughput and raise customer satisfaction.
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Bite’s platform is aiding 1,100 restaurant locations in enhancing labour efficiencies and personalisation, resulting in an average increase in bill sizes of 20%.
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By GlobalDataBite CEO Brandon Barton said: “The restaurant industry is facing a very challenging environment, struggling to generate profits in the midst of an unprecedented labour shortage, rising minimum wages and cost inflation.
“Bite’s self-service kiosk software gives restaurants the tools to succeed in this environment, by leveraging our technology for tasks that can be digitised and re-allocating labour to higher priority responsibilities, including greeting guests, preparing food and managing the handoff of completed orders.”
Staley Capital managing partner Renny Smith said: “Bite’s technology platform is a game changer for restaurants who are looking for ways to offset the significant cost pressures on their business while elevating the in-restaurant experience in a way that engages guests more favourably and increases check sizes.
“Our focus is on partnering with growth-stage B2B [business-to-business] technology companies that provide better, faster, cheaper solutions with compelling value propositions, and Bite delivers on that in meaningful ways, allowing restaurants to work smarter and faster in servicing their guests.”
The company plans to use the proceeds to expand its reach, targeting enterprise restaurant brands, emerging fast casual brands and convenience stores.
The company will also continue to invest in expanding its technological capabilities such as Bite Lift, an artificial intelligence system that analyses each order in real-time and provides customised upsell recommendations.
Bite Lift is considered a major component in encouraging higher average spend sizes.
Barton added: “Coupled with our use of AI to personalise the ordering experience, we are also able to help offset increasing labour costs by driving higher average checks per order.
“We are very appreciative of our investors who understand Bite’s differentiated offering and the value we provide to our restaurant partners.”
