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The funding is being led by ICONIQ Growth, with KKR and L Catterton also participating, all existing backers of the company.
This article first appeared in TechCrunch.
The U.S. restaurant industry is expected to pass $1 trillion in sales for the first time this year, despite wider economic pressures on consumers. Now Restaurant365, a startup building tech to manage those businesses, has raised a hot $175 million to capitalize on that growth.
The funding is being led by ICONIQ Growth, with KKR and L Catterton also participating, all existing backers of the company. Restaurant365 is not disclosing the valuation it received in the round, but Tony Smith, its co-founder and CEO, confirmed to TechCrunch that it is an up-round.
“We’re excited that continues to grow and that we have very supportive investors behind us,” he said. For context, last year, when the startup raised $135 million, it disclosed that it had passed a $1 billion valuation.
Read the full article in TechCrunch.
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