Symphony Technology Group has acquired Alexandria, Virginia-based Fishbowl Inc, a customer engagement provider for the restaurant sector. No financial terms were disclosed. Canaccord Genuity served as the financial adviser to Fishbowl. In addition to the transaction, STG’s Marc Bala and Adam Hendricks have been added to Fishbowl’s board of directors.
ALEXANDRIA, Va.–(BUSINESS WIRE)–Fishbowl Inc., the leading customer engagement platform provider for the restaurant industry, announced today that it has been acquired by Symphony Technology Group (STG) based in Palo Alto, CA. Fishbowl will leverage the long standing expertise that STG has to offer and will welcome Marc Bala, STG Managing Director, and Adam Hendricks, STG Vice President, to its Board of Directors.
STG is a strategic private equity firm with $2 billion in assets under management focused on transforming high-potential companies into definitive market leaders. The firm’s long-term outlook allows its portfolio of software, data and analytics companies to develop innovative product offerings that will appeal to high-growth markets.
“We found immediate alignment in terms of our long-term vision and strategic synergies with STG. They have a tremendous track record of delivering innovation and scale in the analytics and CRM space,” said Dev Ganesan, CEO of Fishbowl. “STG’s investment and strategic support will allow us to continue to scale our platform, empower restaurant brands to deliver successful customer experience and engagement, and revolutionize the restaurant industry.”
Fishbowl’s intelligent customer engagement platform, ingests and analyzes vast amounts of structured and unstructured data from myriad sources, including POS, email clubs, SMS, mobile, online ordering, reservations, loyalty and more, to uncover and predict critical guest insights, desires and preferences, identify strategies to execute data-driven decisions and engage in an omni-channel manner with guests in a more personal, relevant, and effective way using its engagement and targeting platform.
“Fishbowl is an established leader in the restaurant industry with an excellent track record of providing innovative and mission-critical solutions that serve the needs of more than 250 of the world’s leading brands and restaurant chains,” said Bala. “We are thrilled to partner with Dev and the Fishbowl team to help accelerate the growth of the company’s next generation customer engagement platform and to drive even more value for the leading brands that rely on Fishbowl daily to increase traffic and sales. We are looking forward to the journey ahead.”
Canaccord Genuity acted as the exclusive financial advisor to Fishbowl.
Fishbowl empowers restaurants to become best in class marketers. Through its customer engagement platform, Fishbowl provides deep insights to execute data-driven decisions and personalized marketing that drive brand preference and amplify guest sales and visits. Fishbowl’s highly scalable, SaaS platform ingests data from myriad sources to uncover insights that can be leveraged across integrated digital marketing channels. Relied on by more than 70,000 restaurant locations to effectively engage guests, Fishbowl is headquartered in Alexandria, VA, with offices in Silicon Valley, UK, and India. For more information, please visit our website, or follow us on Facebook, Twitter, and LinkedIn.
About Symphony Technology Group (STG)
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great technology and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG’s current portfolio consists of 19 global companies. For more information, please visit www.symphonytg.com.