Omnivore Technologies Raises $10 Million in Series A with Investment from The Coca-Cola Company, Performance Food Group (PFG) and Jeff Vinik
Industry leaders make investment in Omnivore’s ability to make digital restaurant commerce agile and affordable
Release Date: December 14, 2018
HAYWARD, CALIF. (PR Newswire) – Omnivore, a universal point-of-sale (POS) connectivity platform enabling hundreds of third-party technologies to integrate seamlessly with the diverse POS landscape, announced today a Series A investment of $10 million. Lead investors include The Coca-Cola Company and Performance Food Group with additional funds coming from Tampa Bay Lightning owner, Jeff Vinik. Existing follow-on investors from previous rounds also contributed. The financing will be used to accelerate current development and growth of proprietary Omnivore products that minimize friction for restaurant brands, third-party technologies, and POS companies.
“We clearly understand that the growth in the restaurant and hospitality industry is pinned to consumer and staff expectations of technology and how they use it, very similar to what happened with the travel, lodging, and retail industries,” said Mike Wior, CEO of Omnivore. “We’ve enjoyed playing a role enabling innovation and integration in all restaurant technology categories such as online ordering, third party delivery, pay at the table, loyalty, and labor. We will continue to enable the industry in these areas while adding new capabilities and ensuring agility and affordability.”
Omnivore will complement their universal API with two platforms; data warehousing and central menu management. Each is being designed to help unleash restaurant brands’ abilities to analyze and execute at a faster pace and with less friction and expense. The Omnivore data product will address the ongoing question of “whose data is it” by enabling restaurants to access, distribute and leverage their data more efficiently.
“PFG continues to leverage data and consumer insights to add value to our restaurant customers,” said Jim Hope, PFG, Executive Vice President and Chief Financial Officer. “Our new partnership with Omnivore will enable our customers to gain better access to their data, while taking meaningful technologies to our customers that address opportunities to enhance the customer experience.”
Omnivore’s new centralized menu management system will benefit both restaurant operators and technology providers by addressing the increased complexity of managing dozens of digital menus across online ordering, third party delivery apps, digital menus, kiosks and the like. One of the largest benefits being the ability to smooth operational challenges that come with multiple third-party technology partners that all have digital menu dependencies. Omnivore’s central menu management product will not only provide a single portal to manage all menus, it will also result in third-party orders being directly injected into POS systems.
“As a part of ‘The Coca-Cola Commitment,’ we continuously seek out innovation, insights, and technology that can create new value for the industry and serving future consumers,” said Andy McMillin, CMO, National Foodservice & On-Premise Marketing, Coca-Cola North America. “Omnivore’s universal API, centralized menu management solution, data warehousing solution, and marketplace of technologies facilitate the agility to experiment, optimize challenges and execute even faster.”
Omnivore empowers restaurant brands to digitize their guest and operational experience in a meaningful and sustainable way. We deliver an end-to-end suite of solutions built on data and insights that help optimize the essential elements of the digital restaurant experience; online ordering, pay at the table, 3rd party delivery, kiosk/digital menu, reservations, loyalty, inventory, labor, and analytics. All of these solutions completely integrate into the restaurant POS system for operational efficiency, future agility and leveraging of data. For more information, visit Omnivore.io.
About Performance Food Group
Through its family of leading foodservice distributors – Foodservice and Vistar – Performance Food Group Company markets and distributes approximately 150,000 food and food-related products from 73 distribution centers to over 150,000 customer locations across the United States. PFG’s 15,000+ associates serve a diverse mix of customers, from independent and chain restaurants to schools, business and industry locations, hospitals, vending distributors, office coffee service distributors, big box retailers, and theaters. The Company sources its products from more than 5,000 suppliers and serves as an important partner to its suppliers by providing them access to the Company’s broad customer base. For more information, visit www.pfgc.com.