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."
