Houston-based software company HungerRush is building on its direct online-ordering capabilities with a new acquisition.
HungerRush acquired New York-based 9Fold, a developer of software for online ordering and digital marketing, the firms announced May 12. Financial terms of the deal were not disclosed.
"This acquisition will help the restaurant industry move further away from relying on third-party delivery providers," said Perry Turbes, CEO of HungerRush. "9Fold engages customers in a marketing-oriented website, which helps them reduce unnecessary costs and gain access to customer data and insights to better market to their customers."
9Fold develops online-ordering systems for restaurants, as well as marketing and loyalty program services to increase customer engagement with outreach through email and text messages. HungerRush is a provider of point-of-sale restaurant management software and multichannel digital-ordering systems. With the acquisition of 9Fold, HungerRush is adding more digital ordering capabilities to its portfolio.
"The combination of HungerRush and 9Fold provides the industry with the omni-channel ordering technologies that restaurants need now more than ever," said Matthew Volpe, CEO of 9Fold. "What makes this next chapter so exciting is that by joining the HungerRush family we are marrying the experience of off-premise digital ordering with on-premise ordering and loyalty."
HungerRush's acquisition of 9Fold is the company's second deal in around half a year. In December 2020, HungerRush announced the acquisition of OrderAI, a provider of text- and voice-ordering services. In March, HungerRush launched its artificial intelligence-driven text-to-order offering for restaurants, according to a news release at the time.
HungerRush is a portfolio company of Houston-based private equity firm The CapStreet Group. With $924 million in assets under management as of 2021, The CapStreet Group ranked No. 2 on the Houston Business Journal's 2021 Largest Venture Capital and Private Equity Firms List. The CapStreet Group has previously invested in other Houston-based companies, including ATM operator Cardtronics (Nasdaq: CATM) and health care governance software developer Symplr.
