Restaurant tech startup Allset announced today it has has raised an $8.25 million Series B round. The round was led by EBRD with participation from existing investors Andreessen Horowitz, Greycroft, SMRK VC Fund, as well as new investor Inovo Venture Partners. The new round brings the Allset’s total investment to $16.6 million.
Normally, Allset’s tech is meant for the restaurant dining room. Customers use the app to make a reservation and even order and pay ahead for their food, so that it’s ready when they arrive at the restaurant. In 2019, the company added a pickup option for customers, which in hindsight was a wise move, seeing as most restaurants’ dining rooms are currently closed.
Addressing that fact, Allset recently added a contactless takeout option where customers order and pay online via the Allset app as usual, then retrieve their meals from dedicated pickup shelves in the restaurant. For restaurants who participate in this program, Allset is waiving the normal 12 percent commission fee it normally charges. Customers, meanwhile, get a daily $4 discount for all orders placed via the Allset app.
Also in the press release, Allset outlined some new features for the app’s redesign, which include personalized recommendations based on a user’s order history, a Healthy Category, which helps users locate healthier eating options nearby, and special deals made in partnership with Allset’s restaurant partners.
Allset’s ability to quickly pivot from offering efficient dining room experiences to improved takeout orders may be an important differentiator that keeps the company afloat during this unsettling time for the restaurant industry. It’s unclear when dining rooms will re-open or even if people will want to eat in them in the near future. And with the takeout category nowhere near as saturated as delivery, Allset has a good chance of emerging from this time as a leader in terms of go-to solutions restaurants use.
According to the press release, Allset is currently focused on growing in its busiest markets, Los Angeles and New York. The service is also currently available in Austin, The San Francisco Bay Area, Houston, Chicago, Boston, San Jose, Las Vegas, and Miami.