8.23.2022
Voice AI technology platform for restaurants solution provider ConverseNow has closed a $10 million fundraise in partnership with Enlightened Hospitality Investments (EHI), the growth equity fund co-founded by Danny Meyer, the founder of Union Square Hospitality Group and Shake Shack. This adds to their $15 million Series A closed last year, led by Craft Ventures, to bring ConverseNow’s total funding to $28.8 million.
ConverseNow’s groundbreaking voice AI technology has reshaped the future of restaurants, whereby virtual assistants automate the order-taking process so overburdened staff can turn their attention to fulfillment and in-person service. In an increasingly challenging landscape for restaurants, ConverseNow has become a miracle pill that creates a win-win-win situation by enhancing guest experience, elevating staff productivity and job satisfaction, and boosting sales and order volume for owners and operators.
Live in more than 1200 restaurants across 40 states, ConverseNow serves some of the country’s top restaurant brands, such as Domino’s Pizza, Fazoli’s and Blake’s Lotaburger, with many more at various stages of development. This recent round of funding allows the voice AI provider to meet explosive demand by deploying in new locations at scale.
“We are incredibly honored to partner with the hospitality leaders at EHI and USHG as we look forward to our next phase of growth,” said Vinay Shukla, Co-Founder and CEO of ConverseNow. “Even after last year’s 12x revenue growth, we’ve come a long way in 2022. Just about every restaurant chain is looking at voice AI, and naturally coming to us as the category market leader. Demand is very strong, and one of our biggest challenges has been ramping up our AI to keep up with this demand, so an additional round was necessary to accommodate this customer growth without needing to raise a full Series B.”
ConverseNow’s award-winning technology has completely transformed the restaurant landscape, allowing leading brands to move beyond archaic automated phone systems and call centers that have long been a source of consumer frustration. With mainstream adoption imminent, ConverseNow will leverage this funding to scale their technology as the go-to solution for ordering food from leading QSR and FSR brands.
“We’ve seen remarkable results with the customers we’re live with now. Our engineering and product teams have made the impossible possible, and now it’s time to scale these efforts to deploy with more brands, in more stores,” said Rahul Aggarwal, Co-Founder, COO and Chief Product Officer for ConverseNow. “We’ve developed a robust product suite with a growing list of patents to train the AI quicker, integrate with necessary hardware and software providers, and provide analytics for each operator to unlock never-before-seen insights. We’re excited to bring this value to many more leading restaurants.”
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