By Lea Mira, RTN staff writer - 11.1.2024
Marqii, a digital operations platform catering to restaurants and other companies in the hospitality sector, has announced a $10 million Series B funding round. The investment was led by Next Coast Ventures, with participation from Rich Products Ventures and existing investors like Maccabee Ventures. This influx of capital brings Marqii’s total funding to $20 million, significantly bolstering its resources for continued growth and product development. In September, 2023, Marqii completed a Series A funding round, raising $4.5 million.
Founded in 2017 by Avi Goren, Evan Perlmutter, and Bryan Rutcofsky, Marqii offers a centralized platform designed to streamline various aspects of a hospitality business’s online presence. The platform’s core functionalities include:
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Review Management: Aggregating and managing online reviews from platforms like Yelp, Google, Facebook, and OpenTable, enabling businesses to respond to feedback, track sentiment, and identify areas for improvement.
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Menu Management: Updating and synchronizing menus across multiple online platforms and listings, ensuring consistency and accuracy of information.
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Listings Management: Managing and optimizing business listings on various online directories and search engines, improving visibility and discoverability.
Marqii’s platform integrates with dozens of POS systems and over 80 listing sites, simplifying data management and automating updates. This integration allows restaurants and other hospitality businesses to save time and resources, freeing up staff to focus on core operations and customer service.
This latest funding round will be used to further enhance Marqii’s platform and expand its reach within the hospitality industry. The company plans to develop new features, including social media management tools and more robust analytics capabilities. These additions aim to provide a more comprehensive solution for managing a hospitality business’s digital presence and engaging with customers online. Additionally, Marqii plans to expand its team across sales, engineering, and customer success, demonstrating a commitment to providing high-quality support and service to its clients.
Marqii’s growth trajectory has been notable, particularly in the past year. The company reports adding 4,000 new locations to its platform, representing a 50% increase in its customer base, which now totals over 12,000 operators. Furthermore, Marqii has seen increased adoption among larger hospitality businesses, with one-third of its clients now managing 30 or more locations. This suggests that the platform’s value proposition is resonating with both smaller independent businesses and larger multi-unit operators.
The company’s recent product developments also reflect its commitment to innovation. In August, Marqii launched its AI-powered Suggested Review Response feature. This feature automates the generation of personalized, on-brand review replies, significantly reducing the time required for hospitality teams to manage online reviews and engage with customers. Early adopters of this feature have reported a 70% reduction in the time spent drafting review responses.
