Total amount raised
$30.1 Million
Latest funding date
08/01/2020
Location
Seated has successfully raised funding over six rounds, with the latest being a Convertible Note round. The company is backed by ten investors, including Mercuri and Rho Capital Partners.
Seated's platform is designed to help restaurants increase their occupancy and profits without requiring any changes in their operations. Keep reading to explore the intricacies of Seated's fundraising journey and the investors backing this innovative platform.
What Is Seated?
Seated operates in the food delivery, mobile apps, and restaurant industries. The company is based in New York, New York, and has an employee count of 51-100. Seated offers a platform that rewards users for reservations, takeout, and delivery.
Founded to help restaurants increase their occupancy and profits, Seated requires no new technology or additional work for staff. The service is trusted by a diverse range of restaurants, from neighborhood staples to Michelin-starred establishments.
How Much Funding Has Seated Raised?
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for scaling operations and expanding market reach.
- Series Unknown
- Amount Raised: USD 30,000,000
- Date: August 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To adapt to changes brought by the COVID-19 pandemic and expand services to include food delivery and event booking.
- Series B
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and support product development.
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Pre-Seed
- Amount Raised: USD 70,000
- Date: October 2018
- Lead Investors: Mercuri, Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial platform and launch the service.
- Pre-Seed
- Amount Raised: USD 60,000
- Date: January 2018
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage development and market entry.
Total Amount Raised: USD 30,130,000. Current Valuation: Not publicly disclosed.
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They focus on growth-stage software and internet businesses.
- Investment Focus Areas: Software, internet, data services
- Notable Investments: Twitter, Shopify, DocuSign
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage technology companies. They are known for their hands-on approach to helping startups scale.
- Investment Focus Areas: SaaS, marketplaces, e-commerce
- Notable Investments: Airbnb, SpaceX, Slack
- Greycroft
- Details: Greycroft is a venture capital firm that invests in internet and mobile companies. They have a strong focus on media, commerce, and data.
- Investment Focus Areas: Internet, mobile, media, commerce, data
- Notable Investments: Venmo, Huffington Post, Braintree
- Rho Capital Partners
- Details: Rho Capital Partners is a private equity and venture capital firm. They invest in technology, new media, healthcare, and energy sectors.
- Investment Focus Areas: Technology, new media, healthcare, energy
- Notable Investments: Everyday Health, Bluefly, IntraLinks
- Mercuri
- Details: Mercuri is an investment firm that participated in Seated's Convertible Note funding round. Specific details about the firm are not publicly disclosed.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
What's Next for Seated?
Seated's future looks promising as it expands into the restaurant events business through its acquisition of VenueBook. This move opens up significant opportunities, allowing Seated to tap into a market of 120,000 professional event planners and expand its reach into new regions like Los Angeles and Texas. The company is also enhancing its food delivery service, "Seated at Home," to capture more market share.
With these growth avenues, Seated is likely to attract further investment, potentially leading to additional fundraising rounds. However, the company faces challenges such as the uncertainty of restaurant reopenings and the resumption of in-person events. Successfully integrating VenueBook's platform and team will also be crucial for Seated's continued success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Seated and gather other critical business insights. Sign up for free and start making data-driven decisions today.
