A provider of guest engagement platforms for restaurants, Incentivio, has raised $10m in a Series A funding round to help restaurants use artificial intelligence (AI) to drive revenue and guest engagement.
Osage Venture Partners led the funding round and has also seen the participation of other investors, including Ardent Venture Partners and Grotech Ventures.
Osage Venture Partners managing partner Sean Dowling said: “Osage Venture Partners is honoured to partner with Incentivio to build the next-generation platform for digital customer engagement for all restaurants.
“The company’s integrated, AI-driven solution that extracts intelligence from a restaurant’s data and drives automated action to elevate the guest journey can create a category leader in an increasingly critical part of the restaurant tech stack and we are excited to support the exceptional team in realising that vision.”
Incentivio helps restaurants strengthen their digital tech stack and leverage their guest data to enhance the digital guest experience.
The tech firm noted that the funding round follows a 300% year-over-year growth and adoption from thousands of restaurants across the US and Canada.
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With the completion of this funding round, Incentivio will continue to focus on using AI and machine learning to help restaurants reduce manual intervention and costs and increase revenue.
Incentivio co-founder and CEO Rajat Bhakhri said: “The pandemic accelerated restaurants’ need to evolve with the times and adopt more of a digital presence. Now most restaurants are looking to take their digital guest experience to the next level while simplifying their tech stack.
“Most small to medium-sized restaurant groups simply do not have the resources to compete with the largest enterprise brands who have multimillion-dollar budgets and large IT teams. That’s where we come in!”