9-year-old restaurant loyalty platform Liven has spent $152 million buying 4 complimentary hospitality tech corporations – two in Australia, plus one in Singapore and one other in California, because it seems to increase its product vary and worldwide presence.
The Melbourne information firm snapped up the veteran on-line meal ordering enterprise OrderUp, seven-year-old restaurant point-of-sale resolution Abacus, US restaurant funds enterprise Copper and Singapore meals provides ordering platform Zeemart.
The spending comes after Liven’s loyalty and engagement platform took a significant monetary hit over the collapse of Melbourne CBD set up Calia final month, with SmartCompany reporting that Liven is owed round $2 million. Liven gives cashback rewards for diners to redeem on future purchases, however SmartCompany revealed that the enterprise additionally lends to hospitality shoppers and had lend funds to Calia, which was handed to voluntary directors at Jirsch Sutherland in late June.
A Liven spokesperson mentioned the collapse of Calia “has nothing to do with us and impacts us by no means”.
The shopper loyalty platform has greater than 6000 clients throughout Australia, South East Asia and the US, providing hospitality tech options spanning front-of-house to the kitchen and back-office. It has greater than 200 workers, with places of work in Sydney, Brisbane, New York, Singapore, and Indonesia alongside its Melbourne HQ.
“The associated fee and complexity aren’t sustainable – and are magnified at any time when they want assist, new options, or to coach workers,” she mentioned.
“We’ve been quietly constructing certainly one of Australia’s fastest-growing SaaS expertise start-ups. Our platform is fuelled by a relentless stream of innovation impressed by insights from main operators. Now that innovation begins on a single unified platform, magnifying the advantages operators will see and the way rapidly they are going to see it.”
Her cofounder and co-CEO Shahrooz Chowdhury mentioned the 5 corporations mixed will assist remodel the hospitality business
“The place different corporations are horizontally merging round single-point options like ordering or POS to cut back prices, Liven has targeted on a vertical acquisition technique that addresses the core issues hospitality faces – expertise and information fragmentation that holds again innovation and elevated prices,” he mentioned.
Liven has been coy about its capital elevating, having final taken on funding from VC Artesian 12 months in the past in an undisclosed spherical, and in 2020, Latvian entrepreneur Marat Kichikov, managing accomplice at BitFury Capital, additionally invested an undisclosed sum.
The corporate additionally received into the crypto craze in 2019 after getting down to increase $74 million through an preliminary coin providing (ICO) in 2018. Finally the enterprise raised $14 million 12 months later, rebranding the ICO as a personal token sale.