Love at First Bite: Graham Partners with Foodservice Software Provider
April 9th, 2024
PHILADELPHIA
Graham Partners Growth Announces Strategic Investment in Bite, Inc., a Provider of Intelligent Kiosk Solutions for the Restaurant Industry
Graham Partners Growth, the growth equity strategy of Graham Partners (“Graham”), is pleased to announce that it has completed a growth equity investment in Bite, Inc. (“Bite”). Headquartered in New York, New York, Bite is a provider of intelligent kiosk solutions for fast casual and quick-service restaurants. Bite’s software is highly customizable, user-friendly, seamlessly integrates into existing tech stacks, and seeks to improve order accuracy, increase throughput, and enhance customer satisfaction.
Labor shortages, rising labor costs, and the shift in consumer preferences toward digital ordering and technology-enhanced experiences is driving a conversion toward self-service kiosks in the restaurant industry. Graham believes that Bite stands to benefit from this trend as a well-positioned self-service kiosk software provider with proven customer adoption and robust integration and partnership networks. Bite Lift, the company’s proprietary algorithm, seeks to increase the average customer order size using intelligent recommendations, while also improving the customer experience. Bite’s software is hardware agnostic, enabling the company to integrate with a customer’s preferred hardware or point of sale system. Graham believes Bite has a unique position in the self-service kiosk market through its strategic go-to-market partnerships, which increase the company’s lead generation and speed to market.
Bite’s entrepreneurial and passionate leadership team is focused on long-term value creation for the company, which Graham plans to support by bringing meaningful resources to the company from prior experience in the retail automation space.
Dennis Dunegan, Managing Principal at Graham Partners, stated, “As the restaurant industry continues to transition to digital ordering technology, we believe Bite’s customized solution provides value to its customers through the company’s focus on innovation. We look forward to leveraging Graham’s experience with self-service and retail automation technology to support the company’s go-to-market strategy and expansion with new and existing customers.”
About Bite
Bite is a kiosk ordering software trusted by fast casual, quick-serve restaurants, and convenience stores. With its proprietary algorithm, Bite Lift, the company seeks to revolutionize the customer experience by analyzing each transaction in real-time and providing upsell recommendations that typically yield a 20% increase in check averages. Bite’s software is designed to be highly customizable, allowing brands to effortlessly tailor the design to align with their unique identity. It is user-friendly, easy to manage, and can be quickly deployed to enhance operational efficiency. By seamlessly integrating into existing tech stacks, Bite seeks to ensure improved order accuracy, higher average check sizes, increased throughput, and enhanced customer satisfaction for valued clients.
FOR FURTHER INFORMATION CONTACT:
Dennis Dunegan (ddunegan@grahampartners.net)
Christina Morin (cmorin@grahampartners.net)
Tel: (610) 408-0500
This press release is for informational purposes and is not an offer to sell, or a solicitation of an offer to buy, securities in the United States or elsewhere. Graham Partners is not utilizing this release to provide investment or other advice, and no information disclosed therein is to be relied upon for the purpose of making investment decisions. Past performance does not guarantee future results and any transactions described are included as representative transactions and are not necessarily reflective of overall performance. It should not be assumed that any investment described herein was or will be profitable. There can be no assurance that historical trends will continue. Graham Partners' market characterization is based on subjective determinations that it believes reasonable but others may disagree with such characterization. There is no guarantee that Graham Partners' initiatives will drive value for Bite or accelerate growth or lead Graham Partners' investment to become profitable.