Series A funding will support company’s global expansion and guest engagement platform development
New York, London – January 29, 2020 – Restaurant intelligence platform Yumpingo today announced it has raised $10 million in a Series A investment with London-based VC Smedvig Capital. The funding will be used to scale and further innovate Yumpingo’s one-minute instant review platform, launch Yumpingo Pay, a new pay-at-table platform, and expand the company’s sales and operations internationally. Additionally, Keith Taylor, chief financial officer of Equinix, and Mike Ryan, CEO of Bullet Point Network, and previously partner and head of global equity products at Goldman Sachs, are investing in the round and will be joining the Yumpingo board. Also investing is David Cantu, co-founder of HotSchedules, one of the world’s largest SaaS data platforms in the restaurant industry.
Image from L-R: Rob Toms, Managing Director; Freddie Kalfayan, Associate; Joe Knowles, Principal, Smedvig Capital & Gary Goodman, CEO and Founder, Yumpingo
“We’re delighted to be partnering with the team at Smedvig Capital and welcome Joe and Rob to our board,” said Gary Goodman, CEO and Founder of Yumpingo. “Along with Keith and Mike, to have such experienced investors join our board is a testament to the strength of the business we have created and the market opportunity we are seeing around the world for Yumpingo to empower restaurant teams to improve guests’ experiences every day.”
Smedvig Capital is a top European venture capital firm. According to Joe Knowles, Principal at Smedvig Capital: “Yumpingo’s unique instant review platform helps restaurants gather valuable real-time insights into their customers in an ever-competitive and customer-centric industry. We’ve been really impressed with Gary and the team, and are excited to partner with them to grow Yumpingo into the global leader in this emerging space.”
Yumpingo collects data at the end of a meal when the check is presented via a one-minute survey on operator-branded hardware or through a diner’s smartphone. Data is distilled down into meaningful insights that provide management (at site, regional and corporate levels) with the visibility to make informed decisions about how best to optimize the guest experience at the menu item, service, site, menu or concept level.
Launched in the UK in 2017, Yumpingo is a restaurant intelligence platform bringing big data analytics to restaurant operations by tapping into the silent majority of guests’ in-moment restaurant experiences through technology touchpoints. Our award-winning platform enables restaurant leaders to make more decisions, faster, and with greater confidence turning data into insights and actions at unprecedented levels. Yumpingo gives restaurants complete certainty of how to optimize customer satisfaction across brands at location, shift, server and dish level. The ultimate effect is a transformation of the business as proven through numerous case studies which boast increased sales and improved customer satisfaction, and we’re just getting started.
Yumpingo integrates seamlessly with a restaurant’s POS (point-of-sale) to facilitate data which impacts operations, new product development and marketing for some of the world’s largest and most innovative restaurant groups including YO!, California Pizza Kitchen, John Lewis and Wahaca. Reviews are facilitated tableside with digital/paper bills or through an SDK for distribution across any device. Yumpingo recently launched their Everywhere solution for delivery, To Go, catering and QSR/LSR which invites reviews using a QR code.
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About Smedvig Capital
Since 1996 Smedvig Capital has partnered with and helped scale over 70 companies. Leading Series A/B rounds, we are passionate about finding and investing in the best tech-enabled businesses across the UK and Nordics. We work closely with a small number of high-quality teams. We build strong relationships with our founders and aren’t afraid to roll up our sleeves when needed, supporting them through the inevitable ups and downs of growing a business. We’re a flexible source of capital with a long-term view, often backing companies over multiple rounds all the way to exit. We understand that great things take time.
Kate Ottavio Kent, ICR for Yumpingo
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