Vista Equity Partners has made an undisclosed investment in Upserve. Based in Providence, Rhode Island, Upserve is an restaurant management platform. Upserve is also backed by First Round Capital and Pritzker Group Venture Capital.
PROVIDENCE, R.I., July 6, 2017 /PRNewswire/ — Upserve, the industry’s leading Restaurant Management Platform, today announced a strategic investment and partnership with Vista Equity Partners (“Vista”), a leading investment firm. The partnership and capital will enable Upserve to accelerate its growth, grow its employee base, and further invest in delivering a seamless platform for restaurateurs.
Founded in 2009 and headquartered in Providence, RI, Upserve enables thousands of restaurants to unlock the power of their menu, staff, and guest habits through both integrated cloud-based point of sale, payments, analytics, as well as the Upserve Marketplace. Upserve’s rapid growth has established it as the clear leader in serving restaurateurs. Key metrics for Upserve’s platform include:
More than $11 billion in annual transaction volume
32 million active diners in the last 12 months
Over 23 million meals per month
Integrations with over 25 platform partners in the Upserve Marketplace
“Our goal is to deliver world-class solutions to help the restaurant industry, so restaurateurs can focus on providing great hospitality to their guests,” said Angus Davis, founder and CEO of Upserve. “Vista’s financial strength and extensive software and data experience make them the clear partner to help us realize our plans for growth and investments in our expanding product suite for restaurants.”
“Upserve’s market leadership, culture of innovation, and passion to help their customers succeed all combine to create a unique opportunity. We’re pleased to welcome Upserve into the Vista family,” said Alan Cline, Principal at Vista Equity Partners and Co-Head of the Vista Foundation Fund. “We look forward to helping the Upserve team continue its exciting growth and expansion in the years to come.”
Existing Upserve investors ranging from Upserve’s very first investor, First Round Capital, to its most recent backer, Pritzker Group Venture Capital, were among those that participated in the financing.
Upserve is the magic ingredient that helps restaurateurs thrive, putting everything they need in one place. In a single platform, Upserve offers the market-leading cloud point of sale for restaurants, Breadcrumb POS by Upserve; actionable analytics through Upserve HQ; transparent processing with Upserve Payments; mobile restaurant management with Upserve Live, and seamless integration with leading third-party restaurant apps via the Upserve Marketplace. Thousands of restaurants use Upserve to manage relationships with more than 32 million active diners, process over $11 billion in annual sales, and serve over 23 million meals per month. Upserve is headquartered in Providence with additional offices in San Francisco and New York City. For more information, please visit Upserve.com.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $30 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.