Serent Capital has made an undisclosed investment in Compeat Restaurant Management Systems. Based in Austin, Texas, Compeat Restaurant Management Systems is a provider of accounting and back office software and solutions to restaurants.
Compeat Restaurant Management Systems, a leading provider of accounting and back office software and solutions to restaurants, is partnering with Serent Capital, a San Francisco-based private equity firm. Serent’s investment in Compeat will provide the company with access to a capital partner to accelerate the company’s growth and a strategic partner to provide guidance for product innovation, sales strategy, and customer service.
At Compeat, we pride ourselves on delivering a comprehensive, best-in-class restaurant management solution to our customers. We wanted to find an investor who shared our vision for building a business that maintains our relentless focus on our customers’ operational success. The Serent team shares our view and we are excited to work alongside them to continue delivering robust, innovative software to restaurant operators.”
Harry Barkerding, Founder and CEO of Compeat.
Compeat’s mission is to leverage technology to increase control, reduce costs, provide new insight, and improve efficiency for restaurant operators. Over 3,000 restaurants rely on Compeat as their end-to-end restaurant management system, including back office, accounting, labor scheduling, time & attendance, payroll, applicant tracking, employee on-boarding, and more. Compeat is the most comprehensive system available for restaurant operators to seamlessly manage their inventory, people, and accounting with one integrated product.
We are delighted to have the opportunity to support the Compeat team in their remarkable ongoing growth. Compeat built a strong team that delivers a very compelling value proposition to their customers, who spoke very highly of the quality of Compeat’s solution and their extraordinary focus on customer satisfaction.”
Kevin Frick, co-founder and Partner at Serent Capital.
Serent’s investment in Compeat is its third investment focused on the hospitality sector. In November 2012, Serent closed an investment in The Knowland Group, a proprietary business intelligence provider to the hotel industry covering over 5.3 million group events across 170 global markets. In November 2014, Serent partnered with FranConnect, the nation’s leading provider of franchise management systems, to support its continued growth and product innovation.
Compeat shareholders were represented by Ponterra Business Advisors, a specialty foodservice, hospitality, travel and retail technology investment bank headquartered in the Washington, DC, area.
Founded in 2000, Compeat offers innovative Restaurant Management and Accounting software that leverages technology to increase control, reduce costs, enhance insight and improve efficiency for restaurant operators. Today, Compeat is the leading provider of integrated back office control, workforce management, and accounting solutions for restaurants. All of Compeat’s solutions are Cloud-based. For more information about Compeat or its products and services, visit www.compeat.com.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face evolve with it. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating those challenges through their experiences as CEOs, strategic advisors, and board members to successful, growing businesses. By bringing its experience and capital to bear, Serent helps growing businesses thrive. For more information about SS&G’s services, visit SerentCapital.com.