CoverManager plans to use the funds to expand its platform and introduce new products. Here are the top-line bullets you need to know.
CoverManager, a restaurant reservation and booking platform, has raised $37.6M in an angel funding round.
HOW’S THE COMPANY PERFORMING?
- Spain-based CoverManager manages restaurant reservations, with the aim of optimizing table use and improving the management of booking cancellations and confirmations.
- The company’s platform is used by over 6K restaurants across 25 countries, including 100+ Michelin restaurants.
Source: CoverManager
WHY DOES THE MARKET MATTER?
- The global restaurant management software market is projected to reach a value of $6.9B by 2028, growing at a CAGR of 14.2%, according to Growth Market Reports.
- The growing demand for restaurant-specific software for billing, inventory management, supply-chain management, and other tasks has contributed to the market’s growth.
- More broadly, the food service industry, which is worth trillions of dollars, has historically relied on manual processes to do business — providing an opportunity for companies looking to digitize this work.
