FOR IMMEDIATE RELEASE
BR Venture Fund Backs Restaurant Revolution Technologies
Student-run venture fund invests in emerging leader in restaurant order management technology
August 17, 2011 | Ithaca, NY | BR Venture Fund (BRV), an MBA student-run venture fund of the Johnson School at Cornell University, today announced that it has invested in Restaurant Revolution Technologies (RRT), a restaurant order management technology company that manages takeout, delivery and catering orders for restaurant chains. BRV joins a group of investors in this capital round with an investment of an undisclosed amount.
RRT extends the four walls of restaurants and scales their ability to handle customers by managing all takeout and delivery orders for its’ restaurant industry clients. With the first technology solution to manage the customer process from the order through pickup, RRT provides an exceptional customer experience, increased revenue, and lower costs through using its centralized call centers and order management technology. RRT’s current clients have improved revenue and operations with faster answer time, fewer dropped calls, more repeat customers, higher average orders and more satisfied customers – all at a lower cost than doing it themselves.
“We are excited to have BR Ventures participate in this financing, and look forward to leveraging Cornell’s deep expertise in the hospitality industry,” said Michael Dicks, Chief Executive Officer of RRT. “RRT is well positioned with strong technology and compelling results with our first customers. BRV’s investment will enable us to expand to larger restaurant chains and bring RRT services to thousands of locations.”
“We remain in a time of ramped commercialization of technology and disruptive software that are vastly optimizing business operations. RRT fits this mold, and is an exciting investment for BRV,” said Aaron Holiday, Chief Operating Officer of BR Ventures.
Zach Casavant, the BRV fund manager who led the firm’s investment in RRT, noted that “both engineering and hospitality are areas of expertise for Cornell. We at BRV have enjoyed working with RRT’s management team thus far and we look forward to helping RRT achieve significant future growth.”
About BR Ventures
BR Venture Fund (BRV) is an MBA student-run, evergreen, early stage venture fund of the Johnson Graduate School of Management at Cornell University. With over eight portfolio companies spanning high-tech, healthcare, biotech and sustainable technologies, BRV’s investments represent the cutting edge research at Cornell University and rapidly growing businesses accelerated by organizations such as TechStars. BRV is committed to promoting entrepreneurship at Cornell and in the local community. It has several partnerships with prominent angel VC groups in upstate New York and with larger venture capital firms in Boston, New York, Menlo Park, and Seattle. For more information, visit http://brventurefund.com/.
About Restaurant Revolution Technologies
RRT extends the four walls of restaurants and scales their ability to handle customers by managing all takeout and delivery orders for its’ restaurant industry clients. With the first technology solution to manage the customer process from the order through pickup, RRT provides an exceptional customer experience, increased revenue, and lower costs through using its order management technology. RRT’s current clients have improved revenue and operations with faster answer time, fewer dropped calls, more repeat customers, higher average orders and more satisfied customers – all at a lower cost than doing it themselves. For more information, visit: http://www.rrtusa.com.
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