At Reserve our goal is to create a better dining experience for every guest, while helping support the restaurant community. We know it’s not an easy feat, but we’re hitting the ground running.
Today we’re announcing that we’re raising $15 million in our Series A round of financing to support our goal. The syndicate round is led by Human Ventures Capital, the new firm founded by my Reserve Co-Founder Joe Marchese, as well as Expa, who helped design the app. Many members of the syndicate also participated in our seed round, and we’re pleased to receive the continued support of First Round, Lowercase Capital, Advancit Capital, Sherpa Ventures, and others, in addition to welcoming new investors to our syndicate, including institutional investors SV Angel, Venture51 and Visionnaire Ventures, as well as individual investors including Jared Leto, Jon Favreau, will.i.am and others.
Since launching in New York, Boston and Los Angeles a little more than three months ago, we’ve rolled out Reserve in San Francisco, added more than 50 restaurants partners to our service, bringing our total to more than 110 partners, and just last week launched our Android app. Posting images of our “Check is paid” cards has become a social media trend among our diners, and we’ve been lauded in print, on TV and online in outlets as diverse as The Wall Street Journal, Food & Wine, Travel + Leisure, Fox News, TechCrunch, Fast Company and Entrepreneur, to name a few.
Many of our early investors are known for knowing a good thing when they see it. As our initial investors watched our progress and velocity, many of them urged us to pull together a syndicate round for our Series A to allow the group to continue to be involved at a larger level. The feedback, advice and support we’ve received from our investor group has been invaluable, and we’re glad to have the opportunity to continue to work and collaborate with so many talented individuals and organizations.
Our Series A brings our total amount of funding to $17.3 million, and we intend to use every penny to bring a better dining experience to more restaurant partners and diners, in more cities and on more devices, for special occasions and everyday meals. We look forward to bringing the Reserve experience to a broad array of restaurants and guests, and helping them at each and every meal.
Greg Hong, CEO and Co-Founder