ConverseNow, a provider of voice-based AI technology for restaurants, has closed $15 million in Series A funding. Craft Ventures led the round with participation from other backers that include LiveOak Venture Partners, Tensility Venture Partners , Knoll Ventures, Bala Investments, 2048 Ventures, Bridge Investments and Moneta Ventures.
Austin, TX, July 29, 2021 — ConverseNow, the leading voice-based AI technology for restaurants, has closed a $15 million Series A round led by Craft Ventures. The round included participation from investors in the company’s $3.3 million seed round (May 2020), including LiveOak Venture Partners, Tensility Venture Partners , Knoll Ventures, Bala Investments, 2048 Ventures, and Bridge Investments. Moneta Ventures and angel investors Federico Castellucci and Ashish Gupta also participated, bringing the total funding to $18.3 million.
ConverseNow transforms how quick-service restaurants (QSRs) serve customers with George and Becky, sophisticated AI voice ordering assistants that help optimize the deployment of valuable staff hours and improve the speed and accuracy of orders. Its cloud-based, multilingual solution personalizes restaurant orders in high-volume voice channels such as phone, drive-thru, self-service kiosks, and voice-assisted chat on mobile devices.
Already deployed with multinational and national restaurant brands, ConverseNow is shown to increase average orders by 23% and revenues by 20% while adding up to 12 hours of extra deployable labor time per store per week. By allowing human time to be shifted from order-taking to food preparation and high-value guest interaction, George and Becky measurably improve the entire customer experience.
“In the last year, with the pandemic accelerating drive-through habits and preferences, QSR operators have rapidly embraced technologies like ConverseNow to keep up with demand and optimize for efficiency and customer service,” said Vinay Shukla, co-founder and CEO of ConverseNow. “With this additional investment, we will rapidly scale and develop other Drive-Thru solutions such as “digital line-busting” technology, which we will roll out later this year.”
“Attracting and maintaining staff is one of the biggest challenges facing the restaurant and hospitality industries as the economy roars back to life,” added Rahul Aggarwal, co-founder and COO & CPO of ConverseNow. “By strategically using voice AI solutions to more accurately capture orders, we help our customers refocus this scarce human resource to deploy in areas that add the most value.”
Joining ConverseNow’s board of directors, Bryan Rosenblatt, Partner at Craft Ventures, commented: “Post-pandemic, quick service restaurants are primed for digital transformation, and we see a unique opportunity for ConverseNow to become a driving force in the space. Since its launch, the company has seen tremendous growth, and we look forward to supporting the team in becoming the leading digital gateway for QSR orders across multiple channels.”
Rajiv Bala, Managing Director at Bala Investments that led the company’s seed round, added, “With Voice AI becoming a vital part of QSR operators’ strategy, ConverseNow provides an efficient solution to integrate its benefits at scale. Once its algorithms are trained in one voice channel, it can be deployed across multiple channels, reducing cost and time to market, making it a strong investment. We are thrilled to continue to participate in its growth.”
Wayne Pederson, CIO of Fazoli’s Restaurant Management, LLC, adds, “During the pandemic, Fazoli’s continued to serve guests while investing in technologies and infrastructure to fuel growth during the recovery. AI is an integral part of our ongoing strategy, and with ConverseNow, we have found a best-in-class partner. Their solutions allow our operators to better utilize the talents of their teams, thereby enhancing our guests’ overall experience and ultimately improving revenue.”
To learn more about ConverseNow, schedule a demo, or explore career opportunities, please visit www.conversenow.ai.
ConverseNow empowers restaurants with voice-based AI technology to provide fast and personalized customer service. The company’s platform automates and personalizes restaurant orders in high-volume voice channels such as phone, drive-thru, self-service kiosks, voice assistants, and voice-assisted chat on mobile devices. Founded by Vinay Shukla and Rahul Aggarwal in 2018, ConverseNow is headquartered in Austin, Texas. For more information, please visit: www.conversenow.ai.