SPOTHOPPER SECURES $12 MILLION IN SERIES B FUNDING

MILWAUKEE, June 13, 2023 /PRNewswire/ -- SpotHopper, a leading provider of restaurant marketing and operations technology, has announced a Series B funding round with $12 million raised.

The funding came from existing investor TVC Capital, a software-focused growth equity firm based in San Diego. The investment will be used to accelerate the enhancement of the company's AI-based autonomous sales and marketing solutions for the restaurant industry. The new investment brings the company's total capital raised to $26 million to date.

SpotHopper is the fastest growing restaurant software technology company in the U.S. with thousands of customers. The company has grown in excess of 100% per year for the last five years. SpotHopper is already the industry leader in automated marketing tools for restaurants and plans on using the investment to supercharge its platform with new generative artificial intelligence technologies, as well as a fleet of additional features that will help even further streamline restaurant operations.

"This new funding will allow SpotHopper to invest into all of our functional teams, delivering marketing workflows that have proven to accelerate revenues at lower cost with superior outcomes for independent restaurants and hospitality groups," said SpotHopper's Co-Founder and CEO, Aleksandar Ivanovic.

Founded in 2015, SpotHopper is based in Milwaukee, WI with offices across the United States and development and operations offices in Serbia.

About SpotHopper
SpotHopper's all-in-one marketing and operations technology helps independent restaurants tackle the challenges they face online from one easy-to-use platform, saving them time and money. The industry-leading solution enables operators to elevate their online image, increase exposure, bring in more customers, attract more qualified employees, and keep up with national chains. For more information, visit www.spothopperapp.com.

About TVC Capital
TVC Capital is an operator led growth equity firm based in San Diego, CA. We are focused on investments in and acquisitions of mission critical B2B software companies across a wide spectrum of industries and verticals that are poised for growth and consolidation. We partner with exceptional management teams to accelerate growth and maximize value. For more information, visit www.tvccapital.com.

SOURCE TVC CAPITAL; SpotHopper

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