Singapore, April 14, 2016 TabSquare, a Singapore based startup that offers cloud-based operations management and customer engagement platform for the Food & Beverage (F&B) industry raised S$3.5 million in its Series A funding round led by Walden International, with participation from Infocomm Investments Pte Ltd, Phillip Private Equity and serial investor Ivan Lee’s investment vehicle, Raging Bull.
Restaurants today are faced with scattered technology offerings - be it reservations, reviews, delivery or loyalty – that impact less than 10% of the restaurants’ revenues and addresses only some of their pain points. TabSquare offers an integrated restaurant management and customer engagement technology platform that makes each customer interaction more meaningful, efficient and profitable. It is focused on solving the more critical pain points that are core to a restaurant’s profitability and which impact 90% of the restaurant revenues.
With TabSquare SmartTab the restaurant owners can offer a customized tablet menu on every restaurant table where customers can view dishes, get recommendations, place orders, redeem promotions and even pay their bills, without waiting for the waiter. TabSquare SmartApp allows the restaurant to build their business beyond the physical store and delivers the seamless customer interaction even when the customers are at their office or home. TabSquare Nucleus, the cloud-based data warehouse and analytics engine, allows restaurant owners to update the menu on-the-fly as well as provide data analytics to understand consumer behaviour and spending patterns; thereby improving the restaurant’s efficiency and profit margins. The platform’s comprehensive features, design and the new platform-as-a-service pricing ensure that the solution pays for itself from day one!
Integrated with the leading point-of-sale (POS) systems in South-East Asia, TabSquare platform is easy to adopt and the restaurant operators can enjoy a fully integrated Front-office & Back-office system that gives them complete control over restaurant operations from inventory to kitchen management as well as customer marketing and engagement. TabSquare counts over 60 F&B brands and more than 150 stores as customers. Current customers include some of the established players in the industry like Far East Hospitality, Food Theory Group, Global Retail Partners, Japan Foods Holding, and other well-known brands including Nihon Mura, Bistro 1855 and Wala Wala Group.
ThaiExpress founder, Ivan Lee said, “As a restaurateur in the past and knowing what TabSquare solutions can do, I can see how every restaurant owner operator would definitely want their solution. They have done the hard work of really understanding restaurant operator’s problems and providing an easy, simple and comprehensive solution. This is the future of restaurants. TabSquare’s approach of building a strong end-to-end platform from ground up, their vision of making restaurant operations more data driven and their strong business model are what makes them unique and best positioned to be a leader in this space.”
“Thriving in a manpower-lean landscape today is critical to any business operation, particularly so in the F&B industry. TabSquare’s platform offers solutions that improves productivity by lowering labour and operational costs while powering-up revenues with data-driven, customised recommendations for diners. We see this as a strong value proposition not just in Singapore but also for the international markets.” said Pang Heng Soon, General Manager of Infocomm Investments.
Founded by three INSEAD business school graduates, Anshul Gupta, Chirag Tejuja and Sankaran Sreeraman, who have a combined 25 years of experience in B2B sales, customer marketing and project management in top MNCs,TabSquare will use the funding to strengthen its market dominance in Singapore, expand to regional markets and further development of its technology platform.
“TabSquare has been able to address the F&B industry pain points of tight labour market; increasing costs and low profitability. We were impressed by the Company’s ability to scale the business in a capital efficient manner. We look forward to working with the team and supporting their growth.” said Kris Leong, Vice President of Walden International.
Customers of TabSquare, ranging from casual dining sit-down restaurants to cafes & bars have been able to reduce their front-of-house manpower costs by 20-40% and increase their revenues by up to 10%, while at the same time, improving customer satisfaction and repeat visits. TabSquare customer Sam Wan from Japan Food Holdings said “In the past, we used to run a typical 20-25 table restaurant with 3-4 wait staff. With TabSquare, we can run a similar sized restaurant with just 1 full time and 1 part-time staff. Now, we cannot imagine opening a new outlet without TabSquare menus on every table in the restaurant.”
Founded by three INSEAD graduates, Anshul Gupta, Chirag Tejuja and Sankaran Sreeraman, Singapore-based TabSquare offers an integrated restaurant management and customer engagement technology platform that makes each customer interaction meaningful, efficient and profitable whether the customers are inside or outside the restaurant. TabSquare has pioneered data-driven “Smart” solutions for the F&B industry focused on enhancing the customers’ experience throughout their dining journey. TabSquare works with leading brands including Far East Hospitality, Food Theory Group, Global Retail Partners, Japan Foods Holding, Nihon Mura, Bistro 1855, Wala Wala group and plans to become the leading technology partner for F&B industry in the region. To know more about TabSquare, please visit: http://www.tabsquare.com/
Anshul Gupta, email: email@example.com, Phone: +65 9386 0402
Press kit link: CLICK HERE