Total amount raised
$87.1 Millions
Latest funding date
06/01/2021
Location
Popmenu has successfully raised significant funding through multiple rounds, with the latest being a Series C round closed on June 11, 2021. The company is backed by seven investors, including Base10 Partners and Felicis.
Popmenu's platform offers a range of digital solutions designed to help restaurants grow their business, from interactive menus to AI-driven marketing tools. Keep reading to explore the intricacies of Popmenu's fundraising journey and the investors backing this innovative platform.
What Is Popmenu?
Popmenu, founded in December 2016, is a SaaS company headquartered in Atlanta, Georgia. The company was established by Brendan Sweeney, Justis Blasco, Mike Gullo, and Tony Roy.
Operating in the restaurant technology and marketing solutions industry, Popmenu employs between 251-500 people. The company offers a range of digital solutions, including interactive menus, online ordering, and AI-driven marketing tools, serving over 10,000 restaurants.
How Much Funding Has Popmenu Raised?
- Seed Round
- Amount Raised: $585K
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their platform and validate the business model.
- Series A
- Amount Raised: $4.6M
- Date: November 2019
- Lead Investors: Base10 Partners, Felicis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance their product offerings.
- Series B
- Amount Raised: $17M
- Date: October 2020
- Lead Investors: Bedrock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop their AI-driven marketing tools.
- Series C
- Amount Raised: $65M
- Date: June 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the development of Popmenu Max and enhance AI-powered features.
Total Amount Raised: $87.185M
Current Valuation: Not publicly disclosed
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the global Internet, software, consumer, and financial technology industries.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Salesforce Ventures
- Details: Salesforce Ventures is the investment arm of Salesforce, focusing on enterprise cloud companies. They support the next generation of enterprise technology.
- Investment Focus Areas: Enterprise cloud companies
- Notable Investments: Zoom, DocuSign, Twilio
- Bedrock Capital
- Details: Bedrock Capital is a venture capital firm that invests in early-stage technology companies. They aim to support transformative companies.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Cameo, RigUp
- Base10 Partners
- Details: Base10 Partners is a venture capital firm that invests in automation and AI-driven companies. They focus on companies that are transforming the real economy.
- Investment Focus Areas: Automation, AI-driven companies
- Notable Investments: The Pill Club, Reflektive
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that invests in early-stage companies across various sectors, including enterprise, consumer, and healthcare.
- Investment Focus Areas: Enterprise, consumer, healthcare
- Notable Investments: Shopify, Fitbit, Credit Karma
What's Next for Popmenu?
Popmenu stands at the cusp of significant growth opportunities, driven by the development of Popmenu Max, an AI-powered solution designed to enhance restaurant operations. With over 5,000 restaurant locations already on board, the potential for expansion is vast, especially as the industry increasingly relies on digital marketing and AI-driven tools.
Future fundraising prospects look promising, bolstered by the confidence of high-profile investors like Tiger Global Management and Salesforce Ventures. These investors' involvement suggests that Popmenu could attract substantial investment in future rounds, further fueling its growth and innovation.
However, the path forward is not without challenges. Popmenu will need to navigate a competitive landscape, continuously innovate to stay ahead, and address the diverse needs of restaurants. Ensuring data security and privacy, particularly with AI-powered features, will also be crucial as they scale their operations.
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