(Salt Lake City, UT, September 27, 2022) — Ovation, the number one guest feedback platform, announced today it has secured an additional $2 million in funding to continue revolutionizing customer experience for restaurants by providing actionable guest feedback that actually drives revenue. The round was led by York IE with additional investment from Branded Strategic Hospitality.
“I grew up in the restaurant industry and learned that the main reason for everything we do–from training, to food quality, to ambiance, to technology–is to improve the guest experience,” said Zack Oates, founder and CEO, Ovation. “Unfortunately, historically, there have been no great ways to measure guest experience. Ovation is the bridge between guests and restaurants that help restaurants grow.”
Growth in the restaurant industry is needed as restaurant industry sales in 2021 were down $65 billion from 2019s pre-pandemic levels, according to the National Restaurant Association.
Through frictionless integrations with online ordering platforms and other methods, Ovation allows restaurants to easily resolve guest concerns in real-time, get more 5-star reviews, and discover insights to improve. These lead to more engagement, better reviews, and higher retention. Ovation restaurants, which include Burger King, Dominos, El Pollo Loco and Sticky’s Finger Joint, make $2,000 to $3,000 more in revenue per location each month.
“With Ovation, you can get so many different types of feedback,” said Jamie Greer, VP of Operations, Sticky’s Finger Joint. “You get to hear how the customer feels more naturally. Our managers love it.”
The new funding was led by York IE, a strategic growth and investment firm specializing in B2B SaaS growth, and Branded Strategic Hospitality, which offers real insights to their portfolio companies by utilizing their connections, hospitality network and experience to accelerate growth. The new money will be primarily used for growth and customer success. Existing investors include Monta Vista Capital, Steve Young, and 500 Startups.
“I am confident in saying that every single person will patronize a restaurant at some point in their life,” said Joe Raczka, Chief Investment Officer, York IE. “This is not only a huge market opportunity but a chance to make a real impact on how we experience dining. Zack and the entire team at Ovation are uniquely qualified to address this opportunity and we’re confident and excited to support them on their mission.”
To get actionable guest feedback that actually drives revenue, visit https://ovationup.com/.
Voted the #1 guest feedback platform in a nationwide RestaurantOwner.com survey, Ovation uses a 2-question SMS-based survey as a Digital Table Touch™ that has redefined guest feedback. Through frictionless integrations with online ordering platforms and other tools, Ovation allows restaurants to easily resolve guest concerns in real-time, get more 5-star reviews, discover insights to improve, and drive revenue.
ABOUT YORK IE
York IE™ is a vertically integrated strategic growth and investment firm helping reshape the way companies are built, scaled and monetized. Through Fuel™, its SaaS platform, hands-on advisory services and selective early stage B2B SaaS investments, York IE supports ambitious entrepreneurs, operators and investors on their quest to scale startups and disrupt markets. Play the long game at york.ie.
ABOUT BRANDED STRATEGIC HOSPITALITY
Branded is an investment & advisory company, founded by Hospitality Operators, that leverages its 25 years of industry expertise, deep relationships and capital to influence, accelerate and deliver value to hospitality-centric and F&B innovation companies. Visit https://brandedstrategic.com/.