Restaurant QR code startup Sunday has raised $100 million five months after its U.S. and European launch to accelerate the company’s growth.
Why it matters: The Atlanta startup has proven it is on its way to reach a $1 billion valuation and is growing at an unheard-of pace for Atlanta's innovation ecosystem. It had a massive, global launch, simultaneously setting up offices in London, New York, Atlanta, Paris, Madrid and Barcelona to capture the restaurant payment market. It works with more than 1,500 restaurants and has more than 170 employees in five countries, according to the company. Toast Inc., a provider of restaurant point-of-sale and management systems, debuted on Wall Street Wednesday in one of Boston's largest IPOs of the year, demonstrating the demand for restaurant technology after the pandemic.
At a glance: Sunday is popularizing a trend in the restaurant industry that the pandemic accelerated — contactless digital payments. Its technology allows customers to browse menus and pay their checks scanning a QR code on the table. Sunday claims the technology makes dining more efficient and enjoyable. Sunday U.S. CEO Christine de Wendel founded the company with European restaurateurs Tigrane Seydoux and Victor Lugger of Big Mamma Group Restaurants.
Inside the deal: Coatue led the $100 million, Series A round. Partners of DST Global and other restaurant and tech investors also participated. The round brings Sunday’s total investments to $124 million.
What’s next: Sunday plans to double its workforce in the next year and expand its point-of-sale integrations, customer base, geographic presence and product offerings.
Correction: A previous version of this story incorrectly stated that DST Global invested in Sunday, rather than partners of DST Global. This error has since been corrected.
