Allied Minds claimed a 1.27x investment return after exiting restaurant guest engagement platform TableUp in an all-share transaction.
TableUp, a US-based restaurant guest engagement platform, has been acquired by dining house management software developer TouchBistro in an all-share deal enabling commercialisation firm Allied Minds to exit.
Allied Minds received around 2.5 million common shares in TouchBistro valued at almost $6m and claimed to have secured a 1.27x investment return. The firm had supplied $4m to lead TableUp’s series A round of undisclosed size in early 2018.
Founded in 2013, TableUp has built a software platform where restaurants can stimulate bookings by optimising food preparation and offering loyalty discounts based on data insights into specific customer groups.
Restaurants embed the software into their existing payment terminals and can access live updates on how long each guest has been waiting on their food, along with a map showing which table attendant will serve them.
TableUp currently has more than 600 restaurant clients in the US and will now be integrated with TouchBistro’s point-of-sale and restaurant management offering as part of a beefed-up platform called TouchBistro Loyalty.
