Providence-based restaurant management platform Upserve has announced its acquisition of Tel Aviv, Israel-based inventory management platform SimpleOrder. Financial terms of the deal were not disclosed.
As a result of the acquisition, SimpleOrder will become Upserve Inventory. It's a solution that will help restaurants better manage operations, keep food costs low and provide easy access to local providers, and is completely integrated into Upserve's main platform.
"By acquiring SimpleOrder, Upserve brings the industry's best-in-class inventory solution to Upserve's comprehensive restaurant management platform, the magic ingredient that helps restaurants boost profitability," said Angus Davis, CEO and founder of Upserve. "Customers using Upserve Inventory save 30-50 hours every month and report 5-8 percent improvement in their margins. Simply put, if your restaurant doesn't have it, your profit margins are suffering."
This isn't the first time Upserve has made headlines. In July 2017, Rhode Island’s top-funded startup received a high-profile investment from Vista Equity Partners — although the restaurant management platform declined to specify the sum. However, Davis did mention that the company hopes to scale “from mid-eight figures of revenue today, to nine figures of revenue” in a BostInno report.
