Irish restaurant management software start-up Nory has successfully raised $16 million in a Series A funding round, bringing its total funding to $25 million. This recent investment, led by Accel and backed by existing investors Cavalry, Playfair, Samaipata, and Triplepoint, aims to accelerate the company’s product development and international expansion.
“The industry is still under digitised, with fragmented point solutions that prevent businesses from gaining more granular data insights on their own operations, Nory’s AI powered operating system provides restaurants with much needed access to a central, real time source of truth, which is easy to use and delivers fast ROI.” Luca Bocchio, partner at Accel
Founded by Dublin-native Conor Sheridan, who also founded the popular restaurant group Mad Egg, Nory has developed an AI platform designed to streamline operations for hospitality businesses. The platform, which functions as an AI-powered venue manager, helps restaurants and cafes manage and scale their operations by analyzing real-time data to predict hourly venue demand with 95% accuracy. This prediction is based on historical data, seasonal trends, and hyperlocal live data on weather and events.
Nory's technology not only predicts demand but also integrates with other workflows such as stock management, helping businesses reduce costs and waste. With a reported 400% revenue growth last year, the platform has already proven effective for clients like Buns from Home, Jamie Oliver Group, and Roasting Plant Coffee, showing significant cost reductions and profitability improvements for its users.
Conor Sheridan emphasized that the funding comes at a crucial time when the hospitality industry is facing unprecedented challenges, including rising costs and staff shortages. Nory aims to provide a comprehensive solution that gives operators control over their business and profitability. Luca Bocchio, partner at Accel, noted the industry's need for more efficient and integrated technological solutions, which Nory's platform addresses effectively.
“Challenges and complexities like never before...Operators don’t want more tools and apps that digitise every micro-workflow. They need technology that can give them real control over their business, their profitability and their destiny...Nory is on a mission to help systemise success for the restaurant industry and to stack the odds in their favour. Our Series A funding will help us on our path to building the world’s largest restaurant technology company.” Conor Sheridan
Nory, previously known as Skueeze, continues to innovate and expand, with plans to enter new markets in Europe, particularly focusing on Spain. The company’s mission is to become the world’s largest restaurant technology company by providing actionable insights and optimizing operations for hospitality businesses globally.
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