Restaurant365 Has Acquired Compeat

William Blair acted as the exclusive financial advisor to Restaurant365, LLC (Restaurant365), a portfolio company of ICONIQ Growth, Bessemer Venture Partners, and Tiger Global Management, LLC, in connection with the acquisition of Compeat, a portfolio company of Serent Capital. The transaction closed on June 10, 2021.

Transaction Highlights

• Differentiated sector expertise: Restaurant365 was attracted to William Blair's extensive knowledge of, and experience in, the Hospitality Software ecosystem. The transaction team's extensive knowledge of the restaurant ecosystem and software M&A market enabled William Blair to provide highly actionable insights and advice to the Restaurant365 team throughout the transaction process.
• Long-standing relationship and guidance: William Blair has maintained a strong and trusted partnership with Restaurant365 over the course of many years. William Blair's transaction team provided unique market insights and worked closely with Restaurant365 to provide tactical advice for navigating constantly evolving process dynamics.

About the Companies

Restaurant365 is the industry leading all-in-one, accounting, inventory, scheduling, payroll and HR solution developed specifically for restaurants. The R365 platform simplifies day-to-day management for restaurant operators, allowing them to control food costs and optimize labor costs. Integrations and open APIs enable Restaurant365 to connect with other systems including POS providers, vendors, and banks. The result is accurate, timely reporting that provides a clear and complete view of their businesses. Restaurant365 allows operators to focus on what matters - their guests. Backed by Bessemer Venture Partners, ICONIQ Growth, Tiger Global Management and now Serent Capital, as part of this transaction. Restaurant365 is based in Irvine, California with an office in Austin, Texas.

Founded in 2000, Compeat offers innovative cloud-based restaurant management software that leverages technology to increase control, reduce costs, enhance insight and improve efficiency for restaurant operators. Compeat is a fully integrated Accounting, Back Office and Workforce Solution specifically for the restaurant industry. Compeat is based in Austin, Texas.

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