EMN8 Inc., a provider of digital ordering and engagement platforms for the limited-service restaurant industry, announced this morning that it has acquired Snapfinger Inc., a provider of remote ordering platforms for the casual dining industry.
EMN8 raised $50 million to expand its ordering and one-to-one marketing platform, acquire Snapfinger, and accelerate growth domestically and internationally. The company's growth funding was led by Sid R. Bass Associates with participation by Allegis Capital and a number of individual investors with restaurant and technology expertise. Terms of the acquisition were not disclosed.
"This highly complementary acquisition results in a company with over 40 marquee multiunit restaurant chains as customers, over 12,000 restaurants on our ordering and engagement platform and over $275 million in revenues generated for our customers in the past year alone," said Perse Faily, EMN8's CEO. "We have been committed to delivering best-in-class solutions that seamlessly marry digital ordering, branded user experiences and one-to-one marketing to enable restaurant chains to drive revenues, maximize product mix and margins and drive repeat purchase, loyalty and guest engagement. We could not have chosen a better partner than Snapfinger in doing so."
The newly combined company brings to market a suite of products and services for multichannel ordering and engagement in restaurants, including online, mobile, tablet, kiosk, group and call-center ordering; loyalty; customer relationship management through email and mobile marketing; analytics; mobile self-checkou and a range of services.
According to the company, key benefits to restaurant chains include:
"EMN8 and Snapfinger have the same vision for a unified platform that enables restaurants to fully engage with their guests, understand their preferences and ordering histories and deliver a personalized experience," stated Jim Garrett, Snapfinger's CEO. "We are redefining the way that restaurants engage with and market to their guests."
As part of the acquisition, Faily will continue her role as CEO. The newly-combined company is expected to debut a new name in the coming weeks.
The core leadership team from Snapfinger is joining the EMN8 executive team. In particular, Garrett will become executive vice president and chief revenue officer of the company.
EMN8's customers include Burger King, Domino's, CKE, The Counter, Yum Brands India and more. Snapfinger's clients include Subway, Outback and California Pizza Kitchen.
Read more about online ordering initiatives.