Massachusetts-based Incentivio has raised $10m to help restaurants use AI to drive revenue and diner engagement.

The funding round follows 300% year-over-year growth and adoption from thousands of restaurants across the USA and Canada.

“The pandemic accelerated restaurants’ need to evolve with the times and adopt more of a digital presence,” said Rajat Bhakhri, CEO at Incentivio. “Now most restaurants are looking to take their digital guest experience to the next level while simplifying their tech stack. Most small to medium-sized restaurant groups simply do not have the resources to compete with the largest enterprise brands who have multi-million-dollar budgets and large IT teams. That’s where we come in.”

Incentivio helps restaurants consolidate their digital tech stack, gain a 360-degree picture of their customers, and leverage their data to gain real-time insights and enhance the digital diner experience. The next phase of Incentivio’s growth is to continue to innovate using AI and machine learning to help restaurants reduce manual intervention, cut costs, and increase revenue based on their own data.

It plans to invest in go-to-market initiatives to accelerate its growth and to invest in product, engineering and innovation.

“We are truly about the art of flavour meeting the science of data,” said COO Sash Dias. “The largest enterprise brands have an unfair advantage in leveraging data to drive business results. We want to level the playing field so that all brands can thrive in this digital-first economy.”

Osage Venture Partners led the series A round with participation from Ardent Venture Capital and Grotech Ventures.

“Osage Venture Partners is honoured to partner with Incentivio to build the next-generation platform for digital customer engagement for all restaurants,” said Sean Dowling, managing partner at Osage Venture Partners. “The company’s integrated, AI-driven solution that extracts intelligence from a restaurant’s data and drives automated action to elevate the guest journey can create a category leader in an increasingly critical part of the restaurant tech stack, and we are excited to support the exceptional team in realising that vision.”

Founded in 2016 by Bhakhri and Dias, Incentivio leverages AI and machine learning to drive revenue and diner engagement for restaurants. It combines online ordering and white-label restaurant apps with loyalty, gift cards, machine learning upsells, CDP analytics, a data-driven marketing suite, and diner journey management to help restaurants build relationships with their customers and drive digital revenue.