US-based Venga’s clients include restaurant groups such as Think Food Group, Michael Mini and Altamarea Group Restaurants. Their technology automatically links restaurants’ point of sale systems and reservation systems.
The series A round was led by Militello Capital with participation from Think Food Group and BR Ventures. The $1m raised brings Venga’s total funding to date to $1.65m.
Matt Brady, co-founder and chief operating officer of Militello Capital, said: “This funding will allow Venga to satisfy the incredible demand in the restaurant marketplace for its current product and identify new opportunities. We are excited to support Venga’s growth as they continue to develop innovative ways to deliver customer insights to restaurants.”
Restaurants can use the data that Venga’s technology provides to increase visit frequency, customer satisfaction and spending through targeted email campaigns and personalised service. To date, they’ve tracked over $160m in spending and created over 6 million guest profiles. Venga states that restaurants using their services have seen a return on investment exceeding 650%.
With the additional funding Venga plan to scale their sales team and develop a customer relationship management product for the casual dining market.