MarginEdge, an Arlington, VA-based restaurant management, and bill payment platform announced that it raised a $45 million Series C investment, bringing its total raised to over $71 million.
The round was led by Ten Coves Capital, with participation from Fiserv, Derive Ventures, and all previous institutional investors.
With the new capital, MarginEdge plans to continue scaling the team and broadening the functionality of its core product offerings to deepen its impact on the operators it serves.
"Our North Star has always been empowering operators with technology and real-time data to make more informed decisions and getting them back to doing the part of the job they love. In the current environment, and with everything the restaurant community has had to navigate these last few years, this mission has never been more important," says Bo Davis, CEO, and co-founder of MarginEdge.
Founded and led by restaurateurs, MarginEdge is focused on simplifying the complex business of running a restaurant with a platform that offers market-leading invoice processing, inventory management, recipe analysis, budgeting, performance tracking, and supplier bill payment capabilities.
It empowers better business decisions with real-time data and insights, drives meaningful cost efficiencies, and gives essential time back to operators.
MarginEdge has been recognized as one of America's Fastest Growing Companies on the 2022 Inc. 5000 Annual List and is also deeply proud of its people and culture, as evidenced by its "Best Places to Work" designation by both the Washington Post and Washington Business Journal.
Today, with a team of over 500 people, MarginEdge services over 4,000 restaurants in all 50 states and Canada and processes over $3 billion in annual invoices.
Company: MarginEdge, Co.
Raised: $45.0M
Round: Series C
Funding Month: December 2022
Lead Investors: Ten Coves Capital
Additional Investors: Fiserv and Derive Ventures
Company Website: https://www.marginedge.com/
Software Category: Restaurant Management System
About the Company: MarginEdge is restaurant management software that gives you a real-time view of your food costs and helps automate back-office operations. MarginEdge's mission is to create a world where restaurant operators can focus on the business they love. By using best-in-class technology to eliminate unproductive paperwork and streamline the flow of operational data, MarginEdge is reimagining the back office and freeing restaurants to spend more time on their culinary offerings and guest experiences. The platform offers market-leading invoice processing, inventory management, recipe analysis, budgeting, performance tracking, and supplier bill payment capabilities. Founded by industry veterans, MarginEdge serves a diverse group of operators from single units and small chains to large franchise and hospitality groups, providing a high-impact product that resonates across the hospitality industry.
Source: https://www.prnewswire.com/news-releases/marginedge-secures-45-million-in-series-c-funding-to-empower-restaurateurs-with-actionable-data-and-insights-301697201.html