Restorando scrapes up $3.2M from Series-A funding
February 27, 2012 by James
An online reservation system—similar to Kayak.com or Travelocity.com—for restaurants, Restorando, has announced that they got $3.2M from a Series-A funding round, which was led by Emergence Capital Partners, a venture capital firmed based in San Mateo, California.
Restorando was founded in the year 2010 and offers restaurants a way to expand their sales channels to fill empty tables and maximize revenue. Through Restorando, customers can make quick and easy restaurant reservations; for the moment, however, Restorando is primarily running in South America, with operations in Argentina, Brazil, Sao Paulo and Buenos Aires. Restorando has announced that they will use the newly-acquired resources to further expand their South American operations, and has not yet announced any expansion plans in the United States.
For a business like Restorando, a crucial part of the game plan is informing potential customers that the service is actually available. The more people they can get to log on, the more empty tables the company can fill. Restorando’s directors are reeling in customers with online marketing, but they know the value of getting their name recognized; they may decide to enlist local print companies for banner or flyer printing to better diversify marketing exposure.
Restorando is the first Brazilian investment for Storm Ventures and Emergence Capital partners, and Restorando’s CEO, Frank Martin, is excited about the prospects of the business:
“We have a huge opportunity to create value in an industry that’s not currently leveraging technology,” Martin said. “We will enhance the experience for people dining out and increase the profitability for restaurant owners.”