Digital marketing provider secures $500K in capital for restaurant industry growth
Elevate Research Inc. announced today that it has secured $500,000 in seed capital to support its growth in the restaurant and retail industries. The oversubscribed round was led by Confluence Capital and Icon Venture Partners, with participation from local investors, according to a news release.
Elevate enables restaurants to survey customers who recently dined in one of their restaurants. It allows all sizes of restaurants:
- Get immediate feedback from real customers;
- Follow up with upset customers to get them to come back; and
- Have better conversations about performance.
"We set out to create a customer feedback platform so easy to setup that you could do it yourself and so lean that you could try it for free,” CEO Joe Stanton said in the release. "Plus, it had to be tailored to the specific needs of restaurant and retail operators. These were things that were unheard of in this space. But I’m happy to say that we accomplished all three with Elevate."
Elevate plans to use the majority of the funds to fuel the expansion of its sales and digital marketing efforts worldwide.
Elevate will also use a portion of the funds to continue to integrate with other software platforms (e.g., mobile payments, reservation systems, online shopping carts, etc.) that make sense for their clients.
Stanton said the company was created specifically for smaller restaurants and retailers.
"There was no easy and affordable option for them. But what we’ve found is that larger organizations are drawn towards Elevate too. Easy to use and affordable are universal themes that are embraced by all types and sizes,” he said. "And we are excited to have both the capital and partners now to bring it to the masses.”