Forward-thinking companies use Vita Mojo’s full-stack software to automate manual tasks, increase sales and improve customer experience amid labor shortages and the shift to online ordering and takeout
Mojo lifeEurope’s leader in front-of-house restaurant software that powers smarter, more efficient digital ordering and kitchen and delivery operations, has raised $ 30 million in new funding to refine its product and expand into new markets.
The funding round was led by global technology investment firm Battery Ventures, an investor in a number of US-based restaurant and hospitality companies, including Olo * and CrunchTime! Information systems *. Battery Associate General Morad Elhafed and Principal Zak Ewen will join Vita Mojo’s board. Mojo life – which sells to restaurants, pubs, cafes, bakeries and fast-casual restaurants – has large chains in its customer base including Nando’s, GAIL’s Bakery, Le Pain Quotidien, LEON, JKS Group and Neat Burger.
“The headwinds and opportunities that restaurants face today are enormous. Operators are adapting to changing customer preferences for meals and ordering, as well as huge market disruptions – first the pandemic, then supply chain disruptions and labor shortages. This has fundamentally changed the way restaurants operate and reduced profit margins for those unable to adapt, “said Nick Popovici, CEO of Vita Mojo., who originally started the company as a health restaurant chain and then moved on to restaurant software.
Recent searches by Vita Mojo shows more than four-fifths (84%) of Generation Z and millennials (82%) would rather visit a restaurant with self-service kiosks than a restaurant without. According to Popovici, “Today, digital transformation is essential for the hospitality sector and our technology helps companies move forward.”
Vita Mojo also announced new technology that allows restaurant customers to make better food choices when dining out. A new feature built into the company’s technology allows restaurants to accurately and transparently view nutritional and allergen information on their menus by pulling data directly from recipe management software. A UK-wide survey conducted by Vita Mojo earlier this spring found that 43% of customers would be more likely to eat at a restaurant with a calorie label on the menu.
Mojo life is headquartered in London and serves over 130 operators in the UK and Europe. The company’s platform enables restaurants to manage their core operations in a single integrated system, from digital ordering through their own third-party delivery channels and platforms, such as Just Eat, Deliveroo and Uber Eats, to smarter kitchen management. and back-of-house. Unlike most hospitality technology providers who specialize in one element of the restaurant technology stack, Vita Mojo is a powerful all-in-one platform that brings together both customer orders and kitchen operations.
For customers, Vita Mojo enables self-service ordering from kiosks and customer devices, as well as a more efficient takeout experience. On the management side of the restaurant, it allows operators to seamlessly integrate all ordering channels into a single system. Vita Mojo customers see a 35% increase in average order value and an average reduction in labor costs of up to 40%.
“With the funding round complete, now is the time for action,” said Stefan Catoiu, co-founder and COO of Vita Mojo. “This investment will accelerate our product roadmap, as well as help update our data and insights capabilities and increase the success of our customers, product and engineering teams. We are on track to double our workforce in the next year, with most of our hiring focused on taking our customer support to the next level. “
Restaurants now realize they can see a significant increase in revenue from an integrated, multi-channel ordering system, given the increase in delivery and takeaway orders that survived the pandemic. The large amount of data generated by Mojo lifeTechnology, from order to invoice, helps restaurants better serve customers and build loyalty by personalizing their experience and offering personalized marketing based on previous order activity.
“Vita Mojo has a bold vision for the restaurant industry,” said Battery’s Morad Elhafed. “Offering a platform that combines digital ordering with kitchen operations is a valuable proposition that solves the problem of managing multi-point solutions and systems. Our experience with restaurant technology in the US makes us excited about Vita Mojo’s opportunity in Europe and its overall mission to take restaurants to the next level by simplifying their operations and delivering an amazing customer experience. “
Vita Mojo International Secures £ 24.8m Investment in Series B Led by Battery Ventures – UK Technology Investment News
Source link Vita Mojo International Secures £ 24.8m Investment in Series B Led by Battery Ventures – UK Technology Investment News