Popmenu raises $ 65 million for its digital marketing and restaurant ordering platform
Contextual menu, a digital marketing and ordering platform for restaurants, announced today that it raised a $ 65 million Series C funding round. The round was led by Tiger Global Management with participation from new investor Salesforce Ventures and existing investors Bedrock Capital, Base10 and Felicis Ventures. This brings the total amount of funding raised by Popmenu to $ 87.1 million.
Popmenu’s suite of online tools allows restaurants to build their own branded websites, with dynamic and interactive menus. Restaurants can also coordinate delivery or pickup, enable customer reviews, and generate follow-up digital marketing promotions. Popmenu also offers a contactless ordering software package (which is made more important by the pandemic) that allows customers to scan a QR code with their smartphones to view and order restaurant menus.
During last year’s pandemic, when dining halls were closed, the restaurant industry turned to delivery and take-out to stay alive. The easiest way to do this was to partner with a third-party delivery service like Uber Eats or DoorDash. But this easy path to delivery came at the cost of conveying both customer relationship (i.e. order and sales data) and the ability to control branding. . Some restaurant technology companies have even gone so far as to call the pandemic a “wake-up call” for restaurants where, how and by whom their data is accessed.
As an alternative to delivery markets, Popmenu presents itself as a tool that restaurants can use to control the customer journey from the moment that person lands on the person’s website until the moment they click the button to. order and their credit card is charged.
This rebuilding of the direct relationship between restaurants and consumers is something that many software services are touting these days, with everyone from Toast, Square, Olo and others offering some form of direct ordering capability. Squarespace’s recent acquisition of the Tock hotel management platform will likely add more competition to this space as well.
At the same time, however, the delivery services themselves are marketing their own “commission-free” ordering platforms. Grubhub, DoorDash, and Uber Eats have all announced a version of this concept with the goal of keeping restaurants (and their data) firmly rooted in their own ecosystems.
For its part, Popmenu says it will use the new funding to accelerate the development of its Popmenu Max, which complements its all-in-one solution with some AI-based functionality.