Acelerate raises $14.44M Series A to turn existing restaurants into cloud kitchens

Acelerate, a software company looking to help restaurants make the most out of their infrastructure, is today announcing the close of a $14.44 million Series A financing led by Sequoia Capital.

The startup was founded by George Jacobs, who grew up working in his family’s pizzeria. He attended USC with a plan to get a business degree and ultimately expand Georgee’s Pizza, but realized that there was an opportunity beyond his own family restaurant to help all kinds of restaurants in the wake of the tech boom.

After a couple of years at Doordash, he came up with the idea for Acelerate, a startup working to give restaurants a way to make the most of their infrastructure.

The first piece of the business is a simple software solution that allows restaurants to manage their entire digital footprint, from order management, pricing, menu updates and changes, to sales and marketing. The idea is that many restaurants are selling through their own brick-and-mortar location, of course, but also selling through a bevy of other platforms like Doordash, Uber Eats, or Seamless. On top of that, their restaurants are listed on Opentable, Yelp, and other marketing platforms.

It can be a lot to manage.

Acelerate’s SaaS product allows restaurants to manage all of these platforms from a single spot.

But where the company really differentiates from rival players is its licensing business. Acelerate has developed seven proprietary restaurant brands, all with their own menus. They license those brands, complete with the recipes, cooking (Read more...)