Total amount raised
$69.9 Million
Latest funding date
6/1/2020
Location
SevenRooms has successfully raised funding over 8 rounds, with the latest being a Private Equity round. The company has been acquired by DoorDash and has also acquired another company named Pluto.
Keep reading to explore the intricacies of SevenRooms' fundraising journey and the investors backing this innovative platform.
What Is SevenRooms?
SevenRooms, founded in New York, offers a comprehensive guest experience and retention platform for the hospitality industry. The company operates in various sectors including hospitality, hotel, marketing automation, reservations, restaurants, and SaaS.
With a global reach, SevenRooms is used in cities like London, New York, Singapore, and Dubai. The platform is designed to help restaurants and hospitality businesses manage reservations, guest experiences, marketing, and operations, aiming to increase sales and enhance guest satisfaction.
Employing between 251-500 people, SevenRooms has been acquired by DoorDash and continues to innovate in the hospitality and restaurant marketing and operations software industry.
How Much Funding Has SevenRooms Raised?
- Angel Round
- Amount Raised: USD 500,000
- Date: May 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their guest experience platform.
- Angel Round
- Amount Raised: USD 1,265,000
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and market reach.
- Seed Round
- Amount Raised: USD 2,345,000
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the technology and scale operations.
- Convertible Note
- Amount Raised: USD 2,500,000
- Date: February 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing product development and market expansion.
- Series A
- Amount Raised: USD 8,000,000
- Date: December 2017
- Lead Investors: Comcast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand into new markets.
- Series Unknown
- Amount Raised: USD 5,139,000
- Date: October 2018
- Lead Investors: Amazon Alexa Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate voice technology and enhance user experience.
- Series B
- Amount Raised: USD 150,000
- Date: August 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Private Equity
- Amount Raised: USD 50,000,000
- Date: June 2020
- Lead Investors: PSG Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services beyond restaurants and include more hotel groups.
Total Amount Raised: USD 69,899,000. Current Valuation: Not publicly disclosed.
Key Investors
- PSG Equity
- Details: PSG Equity is a growth equity firm that focuses on investments in lower middle-market software and technology-enabled service companies. Established in 2014, it is an affiliate of Providence Equity Partners.
- Investment Focus Areas: Software, technology-enabled services, media, communications.
- Notable Investments: AbacusNext, Anju Software, SignUpGenius.
- Amazon (Alexa Fund)
- Details: Amazon's Alexa Fund invests in companies that are innovating in voice technology and related areas. Amazon is a global technology company known for its e-commerce, cloud computing, and AI services.
- Investment Focus Areas: Voice technology, e-commerce, cloud computing, AI.
- Notable Investments: Rivian, Deliveroo, Aurora.
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, investing in innovative technology and media companies. It supports startups with financial investment and strategic guidance.
- Investment Focus Areas: Technology, media, consumer sectors.
- Notable Investments: Nextdoor, Houzz, FanDuel.
- BoxGroup
- Details: BoxGroup is an early-stage investment fund based in New York City, focusing on technology startups. It aims to support innovative companies at the seed stage.
- Investment Focus Areas: Early-stage technology startups.
- Notable Investments: Not specified in the sources.
- Daniel Schryer
- Details: Daniel Schryer is listed as one of the most recent investors in SevenRooms. Specific details about his background or other investments are not provided.
- Investment Focus Areas: Not specified in the sources.
- Notable Investments: Not specified in the sources.
What's Next for SevenRooms?
SevenRooms stands at the cusp of significant growth opportunities, driven by its recent $50 million funding round. The company aims to expand its services beyond restaurants to include more hotel groups, leveraging its robust CRM tools and reservation systems. This expansion is bolstered by strategic partnerships with major players like Google and Amazon, positioning SevenRooms to capture a larger share of the hospitality market.
Future fundraising opportunities appear promising as the company continues to innovate and expand its market presence. With a strong investor base, including Amazon and Comcast Ventures, SevenRooms is well-positioned to attract additional funding rounds to support its ambitious growth plans. The company’s focus on enhancing its end-to-end guest experience platform and exploring new markets will likely draw further investor interest.
However, challenges remain. The ongoing economic crisis could impact the hospitality industry, affecting the adoption of new technologies. Additionally, competition from other guest experience platforms and the need to continuously innovate pose significant hurdles. Despite these challenges, SevenRooms' strategic vision and strong investor backing provide a solid foundation for future success.
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