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Future of FoodService: Cheetah Technologies' Bags $14M and Welcomes New CEO

Courtesy: Cheetah
Courtesy: Cheetah

Restaurant Tech's Cheetah Technologies has raised $14M in fresh funding to enhance its technology platform and welcomed Kim Spalding as its new CEO. With a robust track record at prestigious companies such as Google and Starbucks, Spalding is set to steer Cheetah Technologies through its next growth phase.

Industry Landscape and Market Size

The restaurant supply chain market, a massive $400 billion industry, is noted for its fragmentation and low customer satisfaction levels, a situation ripe for the transformative solutions that Cheetah aims to provide. The global restaurant management software market alone was valued at $2851.3 million in 2022 and is expected to grow significantly, reaching $6244.17 million by 2031, showcasing a compound annual growth rate (CAGR) of 9.1% during the forecast period. The demand for these technologies is driven by the need for efficiency and enhanced customer service within the foodservice industry.

"The $400B restaurant supply chain market is fragmented, strife with low NPS scores, and therefore, is in dire need of transformation," said Charly Mwangi, Partner at Eclipse. "Paired with Cheetah's technology and density of talent, Kim Spalding brings the experience and operational skills needed to tackle this complex problem. Kim's appointment and Cheetah's latest round of funding will help propel the team forward in a meaningful way as they work towards their mission of transforming the foodservice industry."

Challenges and Opportunities

Spalding’s appointment comes at a crucial time when the foodservice industry is facing numerous challenges, including a fragmented supply chain and the imperative for greater transparency and data utilization. Under her leadership, Cheetah plans to scale its offerings to meet these challenges head-on, leveraging technology to streamline operations and improve service quality across the board.

The industry is undergoing rapid transformation, with significant shifts towards automation and digitalization, especially in response to changing consumer behaviors and the economic pressures of recent years. Restaurant technology solutions are increasingly focusing on integrated systems that reduce cognitive load and increase efficiency, from digital menus to automated inventory management systems.

Competitive Landscape

Cheetah is not alone in its quest for innovation. Companies like ParTech and Jolt are collaborating to enhance cloud-based restaurant management solutions, reflecting a broader industry trend towards harnessing technology to improve operational efficiency. Moreover, significant investments are being made across the sector, with several companies receiving funding to develop technologies that meet the growing demand for fast and efficient foodservice solutions.

The Road Ahead

With her deep experience and a clear vision for the future, Spalding is well-positioned to lead Cheetah Technologies in a pivotal role within the industry. The additional $14 million in funding is set to bolster the company’s capabilities, promising exciting developments in the way restaurants manage supply chains and customer interactions. As the industry continues to evolve, Cheetah Technologies, under Spalding's leadership, aims to be at the forefront, driving innovation and operational excellence in the global foodservice market.

"Kim could not be more perfectly positioned for this opportunity, which is why we were eager to participate in another round of financing focused on advancing Cheetah's technology stack," added Paul Buser, Co-Founder and co-CEO of Sator Grove. "We believe in spending quality time with quality people on game-changing solutions for customers. Kim and Cheetah check all of those boxes for us."

In summary, the trajectory of Cheetah Technologies, backed by seasoned leadership and strategic funding, highlights a broader movement towards integrated, technology-driven solutions that promise to redefine the restaurant supply chain landscape.


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