omniture
PR Newswire: news distribution, targeting and monitoring
Home Page > News Releases > APAC
en_US zh_CN

Menusifu Raises $3 Million Series A to Leverage Restaurant Industry with Intelligent Management Technology

2017-10-26 10:11

NEW YORK, Oct. 26, 2017 /PRNewswire/ -- Menusifu, a fast-growth provider of restaurant software solutions, has raised a $3 million Series A round. This round of investment is led by Amino Capital and joined by Jubilee Capital Management. Previously, Menusifu raised an angel round from ZhenFund in 2015.

"Menusifu's vision is to bring a new standard of restaurant management to the US, by equipping traditional restaurants with progressive technologies to optimize operations and engage digital consumers. Menusifu bridges the gap between the traditional dining culture and new millennial habits, by empowering restaurants to transition into the digital era," says Wang Qiang, Menusifu co-founder and CEO.

Research shows that 60 percent of restaurants in the US fail in their first year and 80 percent cannot make it to their fifth-year anniversary. The reasons could be outdated business models, inefficient management, high labor costs, low profit margins, escalating consumer demands, etc. Therefore, intelligent and mobile technologies for restaurants are becoming increasingly necessary.

As a direct solution, Menusifu builds intelligent management systems for restaurants by providing restaurants with a comprehensive cloud-based point of sale platform that increases efficiency, reduces costs, and improves customer engagement. The cloud platform also assembles scattered small restaurants into larger groups to create a benign restaurant and catering ecosystem.

"US restaurant IT is a massive market with huge potential. In 2016, the total revenue of the US restaurant industry was $783 billion, of which about $8 billion was in IT service costs," says Wang Qiang, "Since 2012, the investment in restaurant technology innovation has exceeded $2.5 billion. "

While restaurant practitioners have a great demand of business intelligence service, there are hardly any specialized companies in the market to provide actionable solutions. Menusifu aims at solving this industry-wide problem, combining external macro-data and restaurant micro-data together to form a powerful database.

Presently, Menusifu has been working with more than 2000 restaurants in all 50 states in the US, with offices in major cities such as New York, Los Angeles, San Francisco, and Atlanta. In addition, Menusifu has developed major partners in Canada, Europe, and Southeast Asia.

About Menusifu

Based in New York, Menusifu is a next-generation POS software developer that utilizes data and operational insights to provide actionable solutions to restaurants. Menusifu builds comprehensive operation management systems, including supply chain, staff coordination, and customer relationship management tools. Learn more at www.menusifu.com.

About Amino Capital

Amino Capital is a venture firm focusing on seed to growth-stage investments in big data, and data-driven technologies, including but not limited to IoT, medicine/genomics, AI/BI, drone/UAV, Fintech, security and infrastructure.

About Jubilee Capital Management

Jubilee Capital Management is a Singapore-based venture capital firm that invests in early stage tech startups that are at the forefront of delivering innovative, disruptive solutions in their industry — including financial services, travel, urban, lifestyle and other sectors—and across different markets.

Media Contact:

Yue Xie
Marketing Manager
1(917) 912-7927
yxie@menusifu.com

Source: Menusifu Inc
Related Links:

Featured Video

Computer Software Recent Releases

Computer/Electronics Recent Releases

Food/Beverages Recent Releases

Restaurants Recent Releases

Advanced Search
Search
  
  1. Products & Services
  2. News Releases
  3. Knowledge Center
  4. Journalists & Media
  5. Multimedia Theater
  6. Contact Us