Propel Daily Briefing: Yumpingo raises $10m
Coverage of Yumpingo's raise was seen in Propel's Daily Briefing:
Yumpingo raises $10m: Restaurant intelligence platform Yumpingo has raised $10m in a Series A investment with London-based venture capital firm Smedvig Capital. The funding will be used to scale and further innovate Yumpingo’s one-minute instant review platform; launch Yumpingo Pay, a new pay-at-table platform; and expand the company’s sales and operations internationally. Additionally, Keith Taylor, chief financial officer of Equinix, and Mike Ryan, chief executive of Bullet Point Network and previously partner and head of global equity products at Goldman Sachs, are investing in the round and will be joining the Yumpingo board. Also investing is David Cantu, co-founder of HotSchedules, one of the world’s largest SaaS data platforms in the restaurant industry. Yumpingo chief executive and founder Gary Goodman said: “We’re delighted to be partnering with the team at Smedvig Capital and welcome Joe and Rob to our board. Along with Keith and Mike, to have such experienced investors join our board is a testament to the strength of the business we have created and the market opportunity we are seeing around the world for Yumpingo to empower restaurant teams to improve guests' experiences every day.” Joe Knowles, principal at Smedvig Capital, added: “Yumpingo’s instant review platform helps restaurants gather valuable real-time insights into their customers in an ever-competitive and customer-centric industry. We’ve been really impressed with Gary and the team, and are excited to partner with them to grow Yumpingo into the global leader in this emerging space.” Yumpingo collects data at the end of a meal when the bill is presented via a one-minute survey on operator-branded hardware or through a diner’s smartphone.
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