Bbot Increases Funding to $7.3 Million with New Seed Investment from Rally Ventures
- U.S. stocks close down on news of Biden tax proposal
- Biden To Propose Capital Gains Tax As High As 43.4% For Wealthy - Bloomberg
- Intel (INTC) Tops Q1 EPS by 24c, Offers Guidance
- Snap (SNAP) Tops Q1 EPS by 5c, DAUs were 280 million, Offers Guidance
New funding will be used to accelerate the product roadmap, ramp up talent acquisition and enhance the hospitality customer experience
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
NEW YORK, Jan. 26, 2021 /PRNewswire/ -- Bbot Inc., a restaurant and hospitality tech startup dedicated to simplifying and improving the ordering and payment process, today announced the closing of a $4 million seed extension funding round. Rally Ventures, a national leader in early-stage business technology investing, led the round, with participation from existing investor Craft Ventures, an early-stage venture fund. With this latest seed extension round, the company's total funding is now $7.3 million.
The financing will allow Bbot to hire new talent, accelerate its product development and deepen its focus on providing exceptional service to its hundreds of hospitality customers. In 2021, the company will deliver a new feature that reinvents the traditional bar tab by allowing guests and servers to both add to and place orders on a joint tab. Additionally, this year Bbot plans to release its own API, to give hospitality tech partners the ability to build on the Bbot infrastructure.
"We are proud to partner with restaurants, bars and hotels to provide technology solutions that help them make their operations more efficient, convenient and safer for guests, as we navigate the COVID-19 pandemic and prepare for what's next," said Steven Simoni, CEO of Bbot. "Making our robust and configurable platform available to other industry partners through our own API was a natural next step and opportunity to deepen our exposure within the industry. With this additional funding in place, we will be able to continue to grow Bbot's reach and deliver a more seamless experience to all of our hospitality customers."
Founded in 2017, Bbot helps restaurants, bars, hotels, food halls and other hospitality organizations create digital menus and enable guest-controlled ordering and payment. With Bbot, guests can easily access menus and pay through any smartphone by using QR or location codes right from their tables at the venue. No sign up or app download is required. The company recently won the Hotel Tech Report Award for best in mobile ordering & room service.
"Bbot has a truly impressive infrastructure and has out-built other, more seasoned tech companies in their category by a long shot, with a fraction of the resources," said Justin Kaufenberg, managing director of Rally Ventures. "In the wake of COVID-19, the hospitality industry has a bigger need than ever for seamless technology solutions that can help them streamline operations and increase their margins. Bbot is well-positioned and proven to help them achieve both."
"We're excited to work with Rally Ventures and Bbot to support the evolution of the hospitality industry," said Jeff Fluhr, general partner at Craft Ventures. "Our continued investment in Bbot reflects our confidence in the company's ability to expand their footprint, develop exciting technology, and serve as a valuable partner to the hospitality industry as they navigate a new normal."
Bbot Inc. Press Contact:Cara Morgan, Tandem Marketing Communications email@example.com
SOURCE Bbot Inc.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- International Jazz Day 10th Anniversary Celebration to Take Place Worldwide, April 30, 2021
- Sensi Media Group Announces Stephanie Graziano as New Chief Executive Officer
- Celebrate Earth Day with Easy, Eco-friendly Activities