Technology

Bite secures $9M to fuel growth, invest in AI

Photo: Bite

April 11, 2024

Bite, a provider of intelligent kiosk solutions, has secured $9 million in Series A funding to help fast casuals and QSRs drive digital ordering, which increases check sizes by an average of 20%, said Brandon Barton, CEO of Bite.

"The restaurant industry is facing a very challenging environment, struggling to generate profits in the midst of an unprecedented labor shortage, rising minimum wages and cost inflation," he said in a company press release. "Bite's self-service kiosk software gives restaurants the tools to succeed in this environment, by leveraging our technology for tasks that can be digitized and reallocating labor to higher priority responsibilities, including greeting guests, preparing food and managing the handoff of completed orders."

The funding was led by Staley Capital, with participation from Graham Partners, Food-X, One Way Ventures and Tamarisc Ventures.

"Coupled with our use of AI to personalize the ordering experience, we are also able to help offset increasing labor costs by driving higher average checks per order," Barton said.

Bite will use the funding to fuel its growth, with a focus on enterprise restaurant brands, emerging fast casual brands and c-stores. While many of its restaurant partners live with Bite in only a portion of their locations, the company will invest in scaling its technology solutions with its existing partners, as well as onboarding new clients in its pipeline. Bite will also invest in its technology capabilities, including its artificial intelligence, Bite Lift, which analyzes each order in real time to offer personalized upsell recommendations, a key to driving higher average check sizes.

"Bite's technology platform is a gamechanger for restaurants who are looking for ways to offset the significant cost pressures on their business while elevating the in-restaurant experience in a way that engages guests more favorably and increases check sizes," Renny Smith, managing partner at Staley Capital, said in the release. "Our focus is on partnering with growth-stage B2B technology companies that provide 'better, faster, cheaper' solutions with compelling value propositions, and Bite delivers on that in meaningful ways, allowing restaurants to work smarter and faster in servicing their guests."

Joe Unger, brand president and COO of Gosh Enterprises — the owner of BIBIBOP Asian Grill, Charleys Philly Steaks and Lennys Grill & Subs — said the software allows his team to focus on scaling efficiently while delivering a high level of hospitality.

"Bite streamlines the ordering and payment process for our guests and allows our valued team members and franchisees the ability to spend more time providing delicious food and great guest experiences," he said in the release. "Plus, order suggestions recommended via Bite Lift truly personalize the guest experience by guiding our guests to great additions that complement their existing order. Our partnership with Bite has been a game changer, as we bolster our portfolio and rapidly expand our existing concepts."