BETHESDA, MD, Qu (formerly Gusto POS), the company that is reimagining the role of Point of Sale (POS) technology, today announced it has raised $10 million in a Series B funding round.
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The funding round was led by existing investor Cota Capital, with new funding from leading restaurant-focused PE fund, NRD Capital. Bobby Cox Companies, the owners of multiple restaurant chains, also participated in this round. The company will use the funding to further accelerate its already strong momentum in bringing to industry-leading POS solutions that address the needs of fast-casual and QSR enterprise restaurants to market.
"I am really excited to bring some of the best technology and restaurant industry expertise together," said Amir Hudda, CEO of Qu. "The continued support from leading Silicon Valley based fund, Cota Capital, coupled with NRD's knowledge of operational challenges being faced by enterprise-scale restaurant chains, validates our strategic vision, market opportunity and momentum."
Founded on the simple principal of giving customers choice in picking from best-in-class solutions versus the legacy approach of being "all things to all people," Qu has grown into an enterprise-class POS platform that is used by leading restaurants across the U.S. to help them move faster, stay nimble, and increase profits. Qu's cloud based, API-first architecture and omni-channel ordering solutions enable centralized POS management and allow restaurateurs to deliver a seamless, uniform guest experience anytime and anywhere orders are placed.
"Qu and its technology are transforming the way fast casual and quick service restaurants are able to take, process, and deliver orders," said Bobby Yazdani, Founder and Managing Partner at Cota Capital. "Our continued investment in Qu reflects our strong belief that they possess the technology, strategic vision, and industry expertise to continue to deliver innovative POS solutions. We look forward to our ongoing successful partnership with their management team."
The Series B funding will enable Qu to accelerate the development of strategic initiatives, building upon the successful launch of the industry's first integrated platform for order taking, order processing, and order delivery. Qu's newest platform features include:
Omni-Channel Ordering: Qu's platform offers solutions for anytime and anywhere orders are placed, including in-store, kiosk, hand-held, drive-thru, online, and mobile.
In-House Delivery: Qu's new delivery solution enables restaurateurs to bring delivery in-house and offers a complimentary solution to third-party delivery providers.
"Qu is at the forefront of POS technology and is leading the industry in improving margins for operators - core elements of NRD's investment thesis," said Aziz Hashim, NRD Capital Managing Partner. "NRD Capital is proud to partner with Qu as they continue to revolutionize how restaurants deliver an exceptional experience to their customers while optimizing their unit-level economics and making data-driven decisions."
In addition to providing funding, NRD Director and restaurant industry veteran, John Teza, has joined Qu's Board of Directors.
Qu, formerly Gusto¬®, is going beyond traditional Point of Sale (POS) technology with a singular focus on fast casual and quick service restaurant chains. Leveraging an API-first approach and a core suite of omni-channel ordering solutions, Qu delivers an enterprise-scale, cloud-based POS platform that's fast, flexible, and forward-thinking, making it easy to implement, easy to use, and easy to afford. Improved guest experience, best-in-class integrations, centralized enterprise management, and payment processor choice are some of the reasons leading restaurant chains choose Qu to help them move faster, stay nimble, and increase profits. Learn more at www.qubeyond.com or email firstname.lastname@example.org.
About Cota Capital
Cota Capital is a San Francisco-based investment firm with a focus on private and public software companies. Cota's core belief is that entrepreneurs and companies will continue to leverage software in innovative ways to disrupt all industries across the world. Cota employs a stage-agnostic investment approach, providing the firm flexibility to invest across all stages of a company's lifecycle, from venture through public securities. For additional information, please visit www.cotacapital.com.
About NRD Capital Management, LLC
NRD Capital Management, LLC, founded by Aziz Hashim, is a private equity firm that invests in companies offering superior products/services and compelling unit-level economics. By infusing capital and applying operating expertise, NRD guides its investments towards strategic growth. The fund invests in small to mid-sized brands (franchise and non-franchise), both domestic and international, primarily focusing on restaurants, technologies and service/retail opportunities. Through the NRD Foundation, the firm supports non-profit and for-profit international organizations that create entrepreneurs, foster financial independence, and power academic research focused on franchise entrepreneurship. For additional information, please visit www.nrdcapital.com.
About Bobby Cox Companies
Bobby Cox Companies, Inc., is a dynamic family restaurant operation dedicated to meeting the needs of today's consumers. Under the guidance of its founder, Bobby D. Cox, the company has grown from its humble beginnings as a single coffee shop restaurant in 1961 in Odessa, Texas, to a multi-concept restaurant operation with more than 70 locations throughout the southwestern United States. Bobby Cox Companies is the embodiment of the entrepreneurial spirit of free enterprise. The company is headquartered in Fort Worth, Texas, and employs over 3,500 people throughout Texas and New Mexico. For additional information, please visit http://www.bobbycox.com.