Point of sale platform Omnivore raises $10m in funding
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POS platform Omnivore raises $10m funding

18 Dec 2018 (Last Updated December 19th, 2018 09:51)

US-based point-of-sale (POS) connectivity platform Omnivore has raised $10m in Series A funding with lead investors including Coca-Cola and Performance Food Group.

POS platform Omnivore raises $10m funding
Omnivore’s new menu management system enables restaurant operators to manage digital menus. Credit: Omnivore.

US-based point-of-sale (POS) connectivity platform Omnivore has raised $10m in Series A funding with lead investors including Coca-Cola and Performance Food Group.

Additional funds have come from Tampa Bay Lightning owner Jeff Vinik.

This round has seen contribution from existing follow-on investors from earlier rounds.

The POS technology firm will use the investment to speed up development and growth of its solutions, which could minimise friction for restaurant brands, third-party technologies, and POS companies.

“We will continue to enable the industry in these areas while adding new capabilities and ensuring agility and affordability.”

Omnivore CEO Mike Wior said: “We clearly understand that the growth in the restaurant and hospitality industry is pinned to consumer and staff expectations of technology and how they use it, very similar to what happened with the travel, lodging, and retail industries.

“We’ve enjoyed playing a role enabling innovation and integration in all restaurant technology categories such as online ordering, third party delivery, pay at the table, loyalty, and labour.

“We will continue to enable the industry in these areas while adding new capabilities and ensuring agility and affordability.”

Omnivore will also complement its universal API with data warehousing and central menu management platforms.

These platforms are intended to assist restaurant brands’ abilities in analysing and executing with less friction and expense.

The company’s new centralised menu management system stands to benefit restaurant operators and technology providers by helping them to tackle the increased complexity of managing numerous digital menus across online ordering, third party delivery apps, digital menus, and kiosks.