SevenRooms Raises $50M Series B Round With Providence Strategic Growth
Funding to support continued global expansion of the company's guest experience platform
New York – SevenRooms ("the Company"), a fully-integrated, data-driven guest experience platform for the hospitality industry, has raised a $50 million Series B funding round led by Providence Strategic Growth ("PSG"). This latest funding aims to support SevenRooms' continued global expansion and enable the company to further enhance the industry's only end-to-end guest experience platform focused on helping operators build profitable, direct relationships with their guests. In conjunction with the investment, PSG Managing Director Adam Marcus will join SevenRooms' Board of Directors.
As the only end-to-end global platform with a full suite of products that unlocks a 360-degree view of every guest across both on- and off-premise, SevenRooms' CRM-driven platform includes reservation, waitlist and table management, online ordering, contactless order & pay, reputation management and marketing automation. These mission-critical products enable hospitality operators to increase revenue and profitability by leveraging data to build direct relationships, deliver exceptional experiences, and increase repeat visits & orders.
SevenRooms has partnered with many of the world's largest hospitality brands to help them drive best in class guest experiences for over 500 million bookings globally. The company's client portfolio ranges from independent restaurants to global enterprises, including Bloomin' Brands, Mandarin Oriental Hotel Group, MGM Resorts International, Wolfgang Puck, Michael Mina, D&D London, Corbin & King, Jumeirah Group, Black Sheep Restaurants, Zuma, and Topgolf.
"PSG has deep experience partnering with management teams to scale vertical SaaS-based platforms to create global category leaders," said Joel Montaniel, CEO & Co-Founder at SevenRooms. "With our latest fundraise, we have positioned SevenRooms with the right resources and partner to empower operators worldwide to do more with less, increasing loyalty, revenue and profitability while helping operators make their guests feel at home. We're excited to continue innovating as the only 360-degree guest experience platform available on the market today that addresses every aspect of the guest journey, powered by a purpose-built CRM, robust operational tools and an automated marketing engine."
"SevenRooms is a category-defining company that provides a vital solution to hospitality operators worldwide," said Adam Marcus, Managing Director at PSG. "SevenRooms is uniquely positioned, and we are excited to partner with the team to support their next phase of growth."
For more information about SevenRooms and its services, please visit https://www.sevenrooms.com.
SevenRooms is a fully-integrated, data-driven guest experience platform that helps hospitality operators unlock the full revenue potential of their data. From neighborhood restaurants and bars to international, multi-concept hospitality groups, the end-to-end platform enables operators to build direct guest relationships, deliver exceptional experiences, and, ultimately, bring guests back. Founded in 2011 and venture-backed by Amazon, Comcast Ventures and Providence Strategic Growth, SevenRooms has dining, hotel F&B, nightlife and entertainment clients globally, including: Bloomin' Brands, MGM Resorts International, Mandarin Oriental Hotel Group, The Cosmopolitan of Las Vegas, Jumeirah Group, Wolfgang Puck, Michael Mina, sbe, LDV Hospitality, Zuma, Altamarea Group, Major Food Group, AELTC, Chase Hospitality Group, D&D London, Corbin & King, Live Nation and Topgolf. The company was recently included in Inc.'s annual list of Best Workplaces for 2020. sevenrooms.com.
About Providence Strategic Growth Capital Partners L.L.C.
Providence Strategic Growth ("PSG") is an affiliate of Providence Equity Partners ("Providence"). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in more than 200 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, with offices in London and Kansas City. For more information on PSG, please visit www.psgequity.com, and for more information on Providence, please visit https://www.provequity.com.