Plate IQ Scores $4 Million In Funding

The restaurant business is not an easy industry. Aside from pleasing customers with delicious fare and impeccable service, there’s a lot that happens at the backend from sourcing to hiring to keeping accounts. PlateIQ, a start-up designed to help restaurants with accounting work has just raised $4 million from Eileses Capital and other investment groups.

How it Works

To use PlateIQ, restaurant managers can take photos of a paper invoice and upload it onto the platform. It is then automatically digitised and entered into the restaurant’s accounting software.

It also offers features like Price Tracking, Spending Analysis, Price Updates and Bill Payments. It works in tadem with accounting software including QuickBooks, Microsoft Dynamics and NetSuite.

The platform is already being used by brands like Nobu Restaurants and Thomas Keller Restaurants.

The Funding

According to report from TechCrunch, the start p has scored $4 million in a round led by Eileses Capital along with Initialized Capital, Restaurant Group, the Y Combinator Continuity Fund and the Tamares Group.

It will use the funding to expand through hiring as well as into new markets and areas.