Restaurant365, a restaurant manager software company, has acquired ExpandShare, which provides training content for food service workers.
Restaurant365 said its goal is to increase the efficiency of its clients’ 40,000 outlets.
The Restaurant365 platform combines accounting, inventory, scheduling, payroll and HR solutions into one system.
The deal marks the first reported buy for Restaurant365 since it joined the ranks of Orange County recent unicorns—private firms with a valuation of $1 billion or above—following its largest-ever funding deal last year.
The Irvine-based company, which last year exceeded $100 million in annual revenue, is backed by Bessemer Venture Partners, ICONIQ, KKR, L Catterton and Serent Capital.
Resturant365’s Chief Executive Tony Smith is a 2021 Business Journal Innovator of the Year Award winner.
ExpandShare
ExpandShare of Akron, Ohio, was founded in 2012 and works with more than 70 restaurant technology providers. It is used by hospitality brands nationwide, including US Foods, Starbird, Newk’s Eatery and Marco’s Pizza.
ExpandShare technology is the latest of several innovations to join Restaurant365’s platform over the previous 12 months. Others include tip automation, restaurant intelligence dashboards, and Capture AI, which brings the power of machine learning to invoice management.
The latest acquisition will bring Restaurant365’s total employee headcount up to 900, a company spokesperson told the Business Journal on April 11.
