Restaurant management software
Updated: December 29, 2019
2019. Restaurant management platform Toast raised $250M
Toast, which has built a popular platform for restaurant management, has raised $250 million on a valuation of $2.7 billion, money that it will use to invest in building technology to help restaurants with marketing, recruitment and operational efficiency, as well as start to think about expanding to more territories outside the U.S. Toast’s products include point of sale services as well as reporting and analytics; display systems for kitchens; online ordering and delivery interfaces; and loyalty programs. It also builds its own hardware, which includes handheld order pads, payment and ordering terminals, self-service kiosks and displays for guests. It also offers links through to a network of some 100 partners, such as Grubhub for takeout food, when a restaurant does not cover those services or functions directly, to help stitch together services to work on its platform.
2016. Square now allows to charge loyal customers without card swiping
Mobile payment processing service Square launched a new feature called Card on File that allows to charge recurring customers without card swiping (and even without asking for the card). It's also suitable for customers, because they can come to your shop or restaurant without card and money, take what they want and go away. And you quietly charge the appropriate amount from the card. Of course, first these customers have to opt in and enter their card data to your company's Square account. Besides, using Card on File businesses can charge remote customers without internet payment. But this feature is a little more expensive for business: it will cost you 3.5% plus 15 cents, compared to the 2.75% commission for swiping a card.
2015. iPad POS software Lavu raised $15M
Lavu, that provides iPad-centric point of sale systems has raised $15 million in new funding led by Aldrich Capital Partners. It's a modern solution developed specifically for restaurants, bars & nightclubs, quick serve businesses, and other hospitality industries. Lavu has been profitable since its second month in operation. The company charges a licensing fee (around $1k per POS terminal) and a recurring monthly fee determined by the size of the restaurant. Lavu is currently being used by over 4,000 restaurants in 86 countries. Australia, Thailand, and Singapore are a few regions with especially high adoption. Unlike Square, another POS option for restaurant owners, Lavu does not collect service provider transaction fees. At 2 percent on average, this adds up quickly for a business that brings in tens of thousands in transactions per month.
2010. 3R Restaurant - SaaS service for the real business
You want to create a SaaS service, but think that there are already plenty of them? Yes, really, check any category in the Live Enterprise directory: CRM, project management, accounting systems ... - in each there are already several strong players and probably you can't compete with them without significant resources. But perhaps you can create much more successful project, targeting a particular type of business. For example, like 3R Restaurant. It's a SaaS service for restaurants. It allows to simplify work for restaurant staff and improve customer experience. Via the mobile site (directly on smartphone) customers will be able to view menu, select and reserve a table, order food delivery. And staff gets a handy tool to manage all these orders. In addition, the system allows to send SMS and to inform customers about new promotions and goodies. The service costs €59.95 per month. It is more expensive than Basecamp, but to create such a service - is much easier.