News & Press / December 12, 2017
SevenRooms Brings on Comcast Ventures as First Institutional Investor in $8M Round
Capping off a year of incredible growth, the progressive hospitality technology company will use funding to enhance product offerings, bolster recruiting efforts and accelerate customer acquisition.
NEW YORK (December 12, 2017) – SevenRooms, the leading reservation, seating and guest management software for restaurants, hotels and nightlife, today announced its first institutional funding round, an $8M fundraise led by Comcast Ventures, the venture capital affiliate of Comcast Corporation (NASDAQ: CMCSA). The round brings SevenRooms’ total funding to $16.4 million, following previous investments from notable investors including restaurateur Chef Thomas Keller, the Handwerker family, founders of Nathan’s Famous, Box Group, David Nichols, former President of K-Swiss, Inc., and the Merinoff family, owners and operators of Breakthru Beverage Group, LLC.
Founded in 2011, the New York-based company is used in more than 100 cities worldwide, empowering operators to cultivate meaningful, direct guest relationships and boost revenue. SevenRooms clients range from independent restaurants to internationally-recognized, multi-concept hospitality groups including Standard Hotels, Altamarea Group, The Cosmopolitan of Las Vegas, Corbin & King, Live Nation, Cosme and TAO Group. These clients, among other notable operators across the globe, book more than 2 million guests each month through SevenRooms, with the number of guests seated by clients growing 327% (YOY) from October 2016 to October 2017.
The funding marks the end of an incredible year of growth for SevenRooms, in which the company more than doubled the number of locations on its platform. Major client wins included signing 80 Jumeirah Group restaurants across Abu Dhabi and Dubai, multi-property deals withZuma, The One Group (STK) and Topgolf, as well as the addition of food and beverage outlets at the Waldorf Astoria Beverly Hills and PUBLIC Hotels.
“At SevenRooms, we are empowering operators to create and cultivate the meaningful, direct relationships with guests that make exceptional experiences possible,” said Joel Montaniel, CEO & Co-Founder of SevenRooms. “Whether they run a local, independent restaurant, or an international, multi-concept hospitality group, our reservation, seating and guest management platform gives operators the tools they need to increase revenue and deliver personalized service and marketing to their guests – without increasing their costs. We are thrilled to partner with Comcast Ventures in our first institutional fundraise, as it marks a promise to continue leading the charge in moving hospitality and guest experience forward.”
The recent financing will enable SevenRooms to accelerate growth, build out teams across sales, customer success, engineering, product and marketing, increase the value of the platform for operators with new integrations and features, and shift to full profitability.
“Under the leadership of an extraordinary management team, SevenRooms delivers the most advanced, yet intuitive guest management system for the restaurant and hospitality industry,” said Dinesh Moorjani, Managing Director at Comcast Ventures, who will join SevenRooms’ board of directors. “By actually listening to its customers and elevating the guest experience, SevenRooms has empowered leading restaurants and hospitality operators as opposed to disintermediating them from their own guests. We’re proud to be a part of the SevenRooms story, and look forward to their continued growth and success.”
From neighborhood restaurants to international, multi-concept hospitality groups, SevenRooms empowers operators to create and cultivate the meaningful, direct relationships with guests that make exceptional experiences possible. Founded in 2011 in New York, the reservation, seating and guest management solution gives operators the tools they need to develop direct relationships with guests, boosting revenue and enabling personalized service and marketing. SevenRooms has restaurant, hotel and nightlife clients in more than 100 cities worldwide, including: Jumeirah Group, The Cosmopolitan of Las Vegas, Standard Hotels, LDV Hospitality, Live Nation, TAO Group, Zuma, Bagatelle, Altamarea Group, NoHo Hospitality Group, Chase Hospitality Group, Mercer Street Hospitality, Corbin and King, Ethan Stowell Restaurants and The h.wood Group.
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