Milwaukee-based SpotHopper, a provider of restaurant marketing and operations technology, has completed a $14 million Series A funding round, the company announced Tuesday.
San Diego-based TVC Capital, a firm that invests in growth stage business-to-business software companies, led the round.
The funding is the first outside capital SpotHopper has taken on. The investment will be used for feature development and expanding and accelerating the company’s sales model.
SpotHopper offers restaurants a content management system for their website, along with tools for catering, private parties, online ordering, email and social media marketing automation, loyalty programs and business analytics.
"The mounting stack of challenges facing a restaurant operator can be overwhelming, especially since the (COVID-19) pandemic. We're thrilled to partner with TVC Capital to bring even more cutting-edge solutions to help local independent restaurants master these challenges. The goal of our all-in-one solution is to help operators tackle everything they need to do online from one place; for the lowest cost and the least effort," said Aleksandar Ivanovic, co-founder and chief executive officer of SpotHopper.
The company says most restaurants either run their marketing through a do-it-yourself platform or by partnering with an expensive agency. SpotHopper aims to offer a better experience than agencies at the price point of the DIY options.
TVC Capital is excited to lead a growth equity investment in SpotHopper. The company has developed a fantastic product perfectly tailored to an increasingly digital economy," said Steve Hamerslag, co-founder and managing partner of TVC Capital. "I am intimately aware of the challenges that restauranteurs face and SpotHopper offers a superior solution at a lower cost; the definition of product market fit."