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Founded Year

1998

Stage

Other Investors | Alive

About Onbe

Onbe operates as a financial technology company. It manages and modernizes consumer and workforce disbursements for corporate clients. The company delivers prepaid funds on behalf of a diverse group of corporate clients to their diverse target audiences, employees, and the sales distribution channel. It serves Automotive, consumer goods, healthcare, insurance, and property management industries. It was founded in 1998 and is based in Buffalo Grove, Illinois.

Headquarters Location

2150 East. Lake Cook Road Suite 150

Buffalo Grove, Illinois, 60089,

United States

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Latest Onbe News

Restaurant Brands International's Billion-Dollar Deal

Jan 16, 2024

Restaurant Brands International Inc.  has struck a $1 billion deal. Restaurant Brands International and Carrols Restaurant Group, Inc.  announced that they have reached an agreement for RBI to acquire all of Carrols issued and outstanding shares that are not already held by RBI or its affiliates for $9.55 per share in an all-cash transaction, or an aggregate total enterprise value of approximately $1.0 billion, representing a 23.1% premium to Carrols 30-day volume-weighted average price as of January 12, 2024 and a 13.4% premium to the January 12, 2024 closing price. RBI and its affiliates currently hold approximately 15% of Carrols outstanding equity. Carrols is the largest Burger King  franchisee in the United States today, operating 1,022 Burger King restaurants in 23 states that generated approximately $1.8 billion of system sales during the 12-months ended September 30, 2023. Carrols also owns and operates 60 Popeyes  restaurants in six states. Josh Kobza, CEO of RBI said, "This is a terrific example of our commitment to put our capital to work to accelerate growth and support (Carrols') team in their broader efforts to have a more competitive Burger King restaurant base. The strategic merits of this acquisition are very compelling and consistent with our objective to invest our capital in long-term, high-return opportunities." 600-Store Remodel The transaction is part of Burger King's Reclaim the Flame plan to accelerate sales growth and drive franchisee profitability. The transaction follows the brand's initial $400 million investment announced in September 2022 to drive high quality remodels, improve operations, enhance marketing and support ongoing technology and digital priorities. Burger King expects to significantly accelerate Carrols' current rate of remodels to bring the acquired portfolio to modern image over the next five years. To accomplish this, the team plans to invest approximately $500 million of capital, funded by Carrols' operating cash flow, to remodel approximately 600 acquired restaurants that are not currently considered modern image. In the next five to seven years, Burger King ultimately plans to refranchise the vast majority of the portfolio to new or existing smaller franchise operators who live in their local communities. Burger King will maintain a company restaurant portfolio of a couple of hundred restaurants for strategic innovation, training, and operator development purposes. 1/10/2024 Legion WFM Now Available on SAP Store Legion Technologies , an innovator in workforce management (WFM), announced the integration of its award-winning Legion WFM platform with SAP SuccessFactors solutions, allowing companies with hourly workers to simplify their employee lifecycle management. Now available on SAP Store, Legion WFM provides companies in labor-intensive industries such as retail and hospitality with the ability to maximize labor efficiency and employee engagement simultaneously with intelligent, automated, employee-centric workforce management. “In today’s challenging economic environment, employers are looking for ways to drive higher levels of labor efficiency and engagement with their employees. Legion WFM’s integration with SAP SuccessFactors Human Experience Management suite meets this need, providing organizations in a variety of industries around the globe with a workforce management solution that enables core employee data from SAP SuccessFactors to be automatically integrated into Legion WFM to simplify employee lifecycle management,” said Michael McKeon, VP of Global Alliances for Legion Technologies. “As part of the SAP ecosystem, Legion WFM will help SAP SuccessFactors users transform their internal processes to improve operations, employee engagement, and ultimately customer satisfaction.” Legion WFM enables intelligent automation to combine deep data science and powerful AI to automatically synthesize thousands of data points for better decision-making and faster execution: Strategic Insight: Get instant insights into employee engagement, manager productivity, labor optimization, and compliance trends. Automated Labor Budgeting: Combine accurate long-term demand forecasts with your detailed labor model and scheduling rules to create precise labor budgets. Demand Forecasting: Precisely predict demand across all customer touchpoints every 15 minutes. Labor Optimization: Empower managers with staffing guidance and labor insights to generate the optimal labor plan. Automated Scheduling: Create optimal schedules that match business needs with employee preferences and skills. Automated Time and Attendance: Automate timesheet approvals, corrections, and premium calculations. Frontline Communication: Unlock the power of digital communication to dramatically improve the experience of frontline hourly workers. Instant Wage Access: Support financial well-being and increase retention with access to earned wages in the same app employees use every day—without IT resources. Performance and Rewards: Engage and motivate hourly employees with instant feedback and recognition to help them grow and feel valued. 1/9/2024 CES 2024: Vox AI to Debut Conversational Voice AI for Drive-Thrus At the Consumer Electronics Show (CES) 2024 in Las Vegas, Vox AI 's advanced machine learning technology  for  the drive-thru is making its debut. The Amsterdam-based compnay is part of the NL Tech Pavilion in Eureka Park at the Venetian Expo, Booth 62100, from January 9-12. In the US there are over 200K drive-thru restaurants in the U.S. — which represent about 70% of fast food sales. Vox AI's voice AI that is perceptive, speaks 35 languages is, highly accurate, and able to replicate the speed, tone and rhythms of a human voice, Vox AI is currently in the midst of a proof-of-concept pilot with one a large fast food chain. "We want to redefine human-AI interaction, making it so seamless and intuitive that it becomes a natural part of daily life," said Maurice Kroon, founder and CEO of Vox AI. "We're not just developing a tool; we're cultivating a new standard for communication. We've assembled a group of world-class experts in AI and technology alongside veterans in the QSR business, all united by a shared mission to innovate and excel. Our culture is one of relentless pursuit of excellence and a deep commitment to industry transformation." Learn more at https://voxai.tech . Checkers & Rally's Names Hi Auto Innovator of the Year Hi Auto, a trailblazing company in drive-thru voice AI technology, has been named "Innovator of the Year" at the Checkers & Rally's annual convention. This prestigious accolade underscores Hi Auto's pivotal role in transforming the quick service restaurant (QSR) industry with its advanced voice AI solution. Roy Baharav, CEO of Hi Auto, expressed his enthusiasm for the growing partnership with Checkers & Rally's, stating, "This recognition is a testament to our team’s relentless drive for innovation and excellence. Collaborating with Checkers & Rally's, we are setting a new standard for the QSR experience by deploying our voice AI technology across their extensive national footprint. Our shared vision is to redefine efficiency and customer engagement in the drive-thru landscape." Hi Auto stands at the forefront of the QSR technology sector, with its voice AI technology now a cornerstone in over 400 locations across more than 20 states in the U.S., including a significant presence in Checkers and Rally's franchises and corporate-owned restaurants. Minh Le, Chief Information Officer at Checkers & Rally's Restaurants, praised Hi Auto's innovative streak: "Hi Auto's drive-thru voice AI technology is not just innovative; it's revolutionary. With advanced features such as bilingual English and Spanish capabilities to enhance inclusivity and cloned voices to enhance branding, Hi Auto is propelling our restaurants to new heights of customer interaction and service." Checkers & Rally's, operating over 800 restaurants, celebrated a transformational year at their annual convention in Nashville. The event brought together more than 300 franchisees, vendors, and Restaurant Support Center employees to honor excellence and introduce new initiatives. Among dozens of vendors, Hi Auto stood out, securing its market-leading position with its proprietary natural language processing and high-accuracy voice recognition technologies, specifically tailored for QSRs 1/10/2024 Onbe, TimeForge Offer Same-Day Digital Tip Payouts to Restaurant Workers Onbe , a corporate payouts platform, announces its partnership with TimeForge, a full-featured labor management system for the retail and food service industries, to transform the traditionally cash-heavy tip payout process into a seamless digital-first experience offering a range of popular payment choices. The new partnership with Onbe simplifies the payments side of restaurant management by providing a tip-tracking solution from TimeForge, integrated with Onbe’s digital payout offerings, to 14,000 restaurants, grocery stores and other retail groups and their approximately 840,000 employees. Through TimeForge’s partnership with Custom Business Solutions (CBS), this tip-tracking solution will be an option available to the approximately 11,000 CBS customer locations on all of their supported POS platforms, including NorthStar, Micros, Aloha, and POSitouch. Restaurant operators will be able to calculate tips quickly and accurately at the end of every shift and pay workers immediately via reloadable digital cards. Just 16% of diners pay for their restaurant meals with cash, according to research from PYMNTS , with the remainder using digital and electronic payment methods ranging from credit cards to mobile wallets. As a result, restaurants often don’t have enough cash on hand to tip out staff at the end of a shift, and tip distribution creates additional work and complexity for busy managers. TimeForge’s software solution eliminates the hassle of calculating tip pools and reconciling credit card tips by making it simple to sync data between POS and payroll platforms, ensuring that restaurant employees receive accurate payouts. When integrated with Onbe’s payouts gateway, the solution allows restaurants to replace cash tips with more secure and convenient options that fit the way today’s workforce prefers to pay and get paid: digitally and instantly. “Payout choice is fundamental to Onbe’s offerings – empowering individuals with the secure, fast and convenient options they want while enabling businesses to easily manage those payouts, reducing risk and complexity,” said Bala Janakiraman, CEO of Onbe. “We’re proud to partner with TimeForge in helping evolve a traditionally cash-heavy process to deliver in-demand digital payout experiences, starting with the restaurant industry, making tip distribution fast and seamless.” With the fully managed solution, restaurants can not only automate many aspects of the tip distribution process, but they benefit from Onbe’s features such as built-in fraud prevention and escheatment services that make money management and bookkeeping even simpler. Workers have access to simple online and mobile account tools, allowing them to track, manage and move their money with ease. In industries known for slim profit margins and high operating costs, such as in restaurants and the broader leisure and hospitality sectors, streamlining the tip distribution process is one more way to yield time and cost savings. 1/10/2024 W Barcelona Reports 60% Increase in Guest Spend The W Barcelona  hotel, situated on the famous Barceloneta Boardwalk, recently partnered with IRIS , the leading provider of digital F&B and guest experience platforms, to offer a broader digital ordering experience resulting in a boost in revenue and efficiencies. It selected both its mobile dining solution to deliver an in-room dining service and a world of culinary delights direct to its guest’s doors, in addition to its digital guest directory solution to provide all guests with direct access to hotel and local area information, whilst at the same time maximising revenue and profits. The luxury hotel, which is popular with both residential and day guests, has reported significant results since implementation. Most notably, a 60% increase in average guest spend across all operations via mobile dining compared to traditional dining. More specifically, since deploying digital dining, 35% of all F&B room service orders are now placed digitally, accounting for nearly half (46%) of all revenue. Commenting on the results following installation, Martin Daniel Voštiar, B&F Coordinator, W Barcelona said, “Guests appreciate the ease and efficiency of serving themselves and enjoy the convenience of being able to access information wherever they are, in their own time – they are fully in control of their experience. “The IRIS app is a convenient and holistic tool that ensures guests have all the information at their disposal and the ordering and booking process is as seamless and enjoyable as possible. Remarkably intuitive, it boasts a user-friendly interface that’s easy to navigate and manage. Considering the increase in guest spending through online orders, it’s undeniably delivering a substantial return on our investment. Operationally, the team has reported significant improvements in efficiencies and guest service management. In-room dining has reduced the workload for its “Whatever/Whenever” team who previously took all room service orders over the phone. They now have more time available to focus on other aspects of their role and enhance guest service, particularly during peak times when phone lines are congested, eliminating the need for guests to wait on hold to place an order. It has also assisted the In-room dining team, allowing them to concentrate solely on preparing and delivering orders more efficiently. Alongside mobile dining and ordering, the digital guest directory means guests can easily access information on the hotel facilities, fitness classes, special events and what’s on in the local area. Additionally, guests can download a range of newspapers and magazines, book appointments at the Spa, barber and Tattoo Studio, and view information on the hotel’s services and sustainability policies. A wealth of information is clearly visible and accessible in the palm of the guest’s hand, wherever they are in the property or local area. From a guest perspective, they have found it simple and easy to use, and have been swift to adopt the simplicity of self-service ordering from the comfort of their own device, particularly during peak times when staff are busy. The hotel has invested heavily in promoting the app (accessible via QR codes) at check-in to ensure guests are provided with complete and accurate information on its facilities and services in the most convenient way possible. Offering a more cost-effective, sustainable alternative to traditional paper menus and directories, the hotel team can simply edit and add information online as and when required without the costly and inconvenient job of re-printing and replacing material in all 473 bedrooms. Likewise, they can amend and keep menus and opening hours up to date to ensure the app is always accurate with correct information at no extra cost. Multi-lingual, it delivers a consistent experience for guests, regardless of their nationality and reduced guest wait times with a direct integration to the Micros POS. Voštiar continues, “Following its success we are now planning to extend digital dining in 2024 to our Salt Beach Club. Guests will be able to access digital menus via QR codes printed on the sun beds. They will be able to place their order, have a dip in the sea and return to their lounger with their order waiting for them and we look forward to fulfilling this enhanced guest experience next year.”

Onbe Frequently Asked Questions (FAQ)

  • When was Onbe founded?

    Onbe was founded in 1998.

  • Where is Onbe's headquarters?

    Onbe's headquarters is located at 2150 East. Lake Cook Road, Buffalo Grove.

  • What is Onbe's latest funding round?

    Onbe's latest funding round is Other Investors.

  • Who are the investors of Onbe?

    Investors of Onbe include Bain Capital Ventures and Nyca Partners.

  • Who are Onbe's competitors?

    Competitors of Onbe include Flash and 4 more.

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