09 May, 2016, 06:00 ET
PROVIDENCE, R.I., May 9, 2016 /PRNewswire/ -- Upserve announced today it has acquired Breadcrumb from Groupon (NASDAQ: GRPN), creating the industry's largest cloud-based restaurant management platform serving more than 6,000 restaurants in every U.S. state.
Bringing together Breadcrumb's mobile Point of Sale with Upserve's smart management assistant allows Upserve to deliver the most complete suite of solutions purpose-built for restaurants to increase profit, improve guest experiences, lift productivity, and reduce costs.
Breadcrumb, founded by Seth Harris in 2011, was acquired by Groupon in 2012. The product is a fully featured point of sale system for restaurants, bars and nightclubs built to run in the cloud and on Apple iPad devices. Like other Upserve software, Breadcrumb is delivered as a service through an affordable subscription model. Restaurants use the point of sale software to manage tables, fire orders, track labor costs, customize menus, accept payments and more.
Upserve is the smart management assistant serving up clear guidance that makes restaurants thrive. Upseve connects the dots between point of sale, reservations, online reviews, payments, and more. Restaurants use the management assistant to optimize the menu, check staff performance, build guest profiles, track reviews and organize key information into one place.
Seeds for the acquisition were first sown when Breadcrumb and Upserve teams began integrating the two systems through an informal commercial partnership in late 2015. Demand for the combined products was strong, with the collaboration accounting for nearly a quarter of Breadcrumb's new customer growth in recent months. The integration allows restaurants of any size to effortlessly manage staff, menu, guests and more. Upserve also integrates with legacy point of sale systems like Oracle Micros or NCR Aloha, helping restaurants operate a hybrid PC-based technology environment alongside modern systems purpose-built for the cloud.
"Breadcrumb and Upserve go together like peanut butter and jelly," said Upserve Founder and CEO Angus Davis. "Our product range offers restaurants the most comprehensive solution on the market. The huge scale of our cloud-based platform is unmatched, the quality of our 24x7x365 customer support sets us apart, and our future is bright for continued innovation."
Among the expected benefits of the acquisition:
- Accelerated growth -- serving the same restaurant customer, Upserve now offers a more complete suite of POS and restaurant management tools, contributing to faster growth.
- Simpler for customers -- Combining Upserve with Breadcrumb POS not only provides better information, it also reduces costs, mitigates hardware risks and reduces vendor-management headaches for restaurateurs.
- Better customer support - Upserve is singularly focused on hospitality and recognized for its great customer service. Breadcrumb's escalated support organization remains in place, and will be a focus for growth and improvement during the integration.
- Stronger product leadership -- Rosie Atkins joins Upserve as Vice President, Product. She is a hands-on, results-oriented leader who previously led product at Breadcrumb and OpenTable.
- Robust payments - Upserve has significant payments expertise, handling billions in annual volume. The Breadcrumb payments gateway integration with Upserve Payments benefits customers with enhanced features, reliability and ease of use.
- Open platform - Upserve integrates with all major restaurant point of sale systems, Breadcrumb integrates with all major payment processors, and the combined platform integrates seamlessly with many third-party software packages. Restaurants are free to choose the right tools for their business without concern over closed systems.
"Restaurant point of sale is a very competitive space and Breadcrumb stands to enormously benefit as part of Upserve's comprehensive suite of smart restaurant management solutions for the front and back of the house," said Dan Roarty, senior vice president of food and beverage, Groupon. "We are incredibly proud of the Breadcrumb product and team, and we look forward to watching the product's continued success as a shareholder in Upserve. We're confident that Breadcrumb restaurants are in great hands."
Groupon is exchanging all Breadcrumb assets for an undisclosed, minority stake in Upserve. Employees from Breadcrumb will join Upserve's team in San Francisco, Chicago, Providence and New York.
Customers may learn more at https://Breadcrumb.com or https://Upserve.com/.
Upserve puts everything restaurateurs need to know in one place, providing real-time guidance to empower local restaurants to unlock their full potential. One of the largest and fastest-growing companies in the restaurant technology space, over 6,000 restaurants use Upserve to manage more than 20 million meals per month. More than 2% of all U.S. full-service restaurant sales run on Upserve Payments, which processes over seven billion dollars in annual volume. Founded in 2009, Upserve is backed by First Round Capital, Shasta Ventures, Index Ventures, Pritzker Group and Greylock Partners, among others. Upserve is headquartered in Providence with additional offices in San Francisco and Chicago.
Groupon (NASDAQ: GRPN) is a global leader of local commerce and the place you start when you want to buy just about anything, anytime, anywhere. By leveraging the company's global relationships and scale, Groupon offers consumers a vast marketplace of unbeatable deals all over the world. Shoppers discover the best a city has to offer on the web or on mobile with Groupon Local, enjoy vacations with Groupon Getaways, and find a curated selection of electronics, fashion, home furnishings and more with Groupon Goods.
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