SpotHopper, a leading provider of restaurant marketing and operations technology, has successfully raised $12 million in a Series B funding round. The investment was made by existing investor TVC Capital, a growth equity firm focused on software, based in San Diego. This latest funding round will be utilized to accelerate the development of SpotHopper's AI-based autonomous sales and marketing solutions specifically designed for the restaurant industry. With this new investment, the company's total capital raised to date reaches $26 million.
As the fastest-growing restaurant software technology company in the United States, SpotHopper boasts a substantial customer base comprising thousands of restaurants. Over the past five years, the company has achieved impressive year-on-year growth, consistently exceeding 100%. Recognized as a leader in automated marketing tools for the restaurant sector, SpotHopper plans to utilize this investment to further enhance its platform by incorporating new generative artificial intelligence technologies. Additionally, the funding will be instrumental in introducing a range of additional features aimed at streamlining restaurant operations even further.
Aleksandar Ivanovic, Co-Founder and CEO of SpotHopper, expressed enthusiasm about the recent funding, stating, "This new funding will allow SpotHopper to invest in all of our functional teams, delivering marketing workflows that have proven to accelerate revenues at lower costs, with superior outcomes for independent restaurants and hospitality groups."
SpotHopper, established in 2015, is headquartered in Milwaukee, Wisconsin, with offices located across the United States. The company also operates development and operations offices in Serbia. With a firm focus on advancing AI-driven marketing solutions and its strong track record of growth, SpotHopper is poised to continue its trajectory as a leader in the restaurant technology space, empowering restaurants to optimize their marketing efforts and streamline their operations for increased success.