9 Apr 2018 08:25
Allied Minds leads funding round at TableUp
Boston, MA, 9 April 2018 - Allied Minds today announces a new investment in TableUp, a software provider enabling end-to-end transparency through the restaurant supply chain to enable more effective inventory and operations management. Allied Minds is leading the Series A round with an investment of $4.0 million for a significant minority stake.
Integrated with the owner's existing POS (Point of Sale) system, TableUp provides real-time, customer-level information and analytics to inform and automate inventory management and customer communications. Restaurant owners realise measurable operating efficiencies through an electronic system managing host stand (reducing wait times and increasing turnover), loyalty programmes, online ordering, mobile app and payments.
For the end consumer TableUp's service offers a simple user-friendly way to book reservations, make advance selections, receive waiting time notifications, and on-line ordering for delivery.
Proceeds from the round will be applied to grow revenue, focusing on signing more customers to the TableUp platform, building on existing relationships including with Reyes Holdings, LLC and others.
Jill Smith, CEO of Allied Minds, commented "TableUp is our first investment into a two-sided platform that targets supply chain and operational improvements through analytics derived from real-time data generated at the end-user and location level. We see the potential for rapid scaling up of the platform and associated revenue growth. With the exponential growth in connectivity and IoT, we see opportunities in such "smart" vertical market applications that deliver supply chain and / or operating performance improvement."
ENDS
For more information contact:
Allied Minds plc +44 7771 872 922
Neil Pizey, Head of Corporate Development
FTI Consulting +44 20 3727 1000
Ben Atwell / Brett Pollard
About Allied Minds
Allied Minds plc (Allied Minds or the Company or the Group) is an IP commercialisation company focused on early stage company creation and development within the technology and life science sectors. With origination relationships spanning US federal laboratories, universities, and leading US corporations, Allied Minds sources, operates and funds a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services. For more information, please visit www.alliedminds.com
Allied Minds Forward-Looking Statement
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