JUICER has completed a seed round of $5.3 million. The round was led by York IE and will be used to further develop tools and data for their restaurant revenue management services.
The company offers solutions designed to help restaurants adjust to increased delivery demands as well as the need to engage with customers digitally. JUICER Pricing optimizes menu prices, a service that also features dynamic pricing for 3rd party delivery. JUICER Compete provides real-time digital pricing information using the power of AI.
These services provide an alternative to the traditional promotions and pricing that oftentimes struggle to deliver results in an increasingly digital world.
Ashwin Kamlani, JUICER co-founder and CEO, said, “The restaurant industry is at an inflection point, and operators who embrace the power of data and technology will be the ones to thrive in this new era.”
He said the funding will be used to speed up development for their platform and also expand their team of data scientists and industry experts. The company also hopes to help more restaurants enjoy the benefits offered by utilizing pricing science and revenue management.
JUICER uses advanced AI and machine learning algorithms to provide a data-driven “happy hour” for fast casual and QSR restaurants. This approach allows customers to enjoy predictable pricing and also lets restaurants optimize pricing. Consumers can then take advantage of lower prices in non-peak periods.
Roberto Soto, Pizza Hut’s Director of Revenue Management, expressed his appreciation for JUICER’s new technology. “JUICER’s insights on competitive intelligence and market pricing play a critical role in helping us evaluate our pricing and promotions strategy,” he said.
The recent funding round was led by York, but also included seed stage investors Mudita Venture Partners and Augment Ventures. Additional investors and operators, such as Kayak co-founder Paul English and 16 Handles founder Solomon Choi, have also given their support to JUICER.
Marshall Everson, Vice President of Investments & Strategy at York IE, will join JUICER’s board. He expressed how he believes the company is leading a great shift in restaurant operation and competition.
“They are solving immediate pain points by helping restaurants navigate the narrow canyon between rising cost and consumer price sensitivity. Best of all they’re doing it in a collaborative and transparent way which is refreshing for an industry saturated with technology providers,” Everson said.
