ResQ, a Toronto-based SaaS startup, raised $39 million (CAD 48.5 million) in a Series A funding round.
The round was Co-led by Tiger Global and Canvas Ventures, the raise also saw participation from other investors in the culinary, restaurant technology, and e-commerce industries.
Disclosed investors include Tony Xu and Stanley Tang, founders of DoorDash; Bastian Lehman, founder of Postmates; Michael Katchen, founder of Wealthsimple; Max Mullen, founder of Instacart; Homebrew Ventures; Inovia Capital; Golden Ventures; and other returning and new entities committed to ResQ.
With its new capital, the company plans to expand its employee base by 400 percent to further develop its restaurant automation solutions.
Company: Get ResQ Ltd.
Round: Series A
Funding Month: October 2021
Lead Investors: Tiger Global and Canvas Ventures
Additional Investors: Tony Xu, Stanley Tang, Bastian Lehman, Michael Katchen, Max Mullen, Homebrew Ventures, Inovia Capital, and Golden Ventures
Company Website: https://www.getresq.com/
Software Category: Restaurant repair and maintenance platform
About the Company: Founded in 2018, ResQ’s restaurant software enables owners to submit, manage, and pay for repairs and maintenance through the company’s curated marketplace of service providers. Using ResQ’s technology, the company claims that restaurant operators can save 20 percent in annual maintenance costs and reduce equipment downtime. ResQ currently serves over 4,000 restaurant groups including KFC, Taco Bell, Pizza Hut, Wendy’s, A&W, Burger King, Tim Hortons, The Keg, Fogo de Chão, Marugame Udon, Parker Hospitality, Cactus Club Cafe, and Paramount.