(my thoughts appear below the press release)
Bindo to Unveil New Restaurant POS Solution with $2 Million Investment
Leading retail technology company secures $2 million for its bridge round to develop an iPad POS solution for brick-and-mortar merchants in the F&B industry
NEW YORK, Sept. 3, 2015 - Bindo, a leading cloud-based business management solution for brick-and-mortar merchants, today announced it has debuted a beta version of its new iPad POS system, Bindo POS for Restaurant. The company also announced it has secured $2 million in funding from strategic investors eager to see the POS solution expand into new verticals.
Bindo will use the investment to launch the new POS system globally, enabling restaurant owners to have one complete and holistic business solution that can integrate telephone orders, online ordering, table management, reservations, and ingredient-level tracking all in one platform. Bindo POS for Restaurant is now available in beta at a few select restaurants, and will become publicly available in mid-September.
Bindo POS for Restaurant provides a simple way for restaurants to easily manage their inventory and sales from a centralized back-office dashboard, whilst also allowing them to accept and schedule reservations from a centralized cloud-based platform. Restaurants are given the tools to better forecast inventory and supply needs by accurately recording the ingredients that go into each dish. Bindo POS for Restaurant will also maximize seating capacity and table turnover by enabling front of house to seamlessly schedule bookings through an integrated CRM and floor planning system.
“We wanted a mobile and elegant POS solution to complement our modern restaurant theme and came across Bindo,” said Ivan Yeh, Owner of Shoku Bar and Restaurant and first-time user of Bindo POS for Restaurant. “Since deployment, Bindo has helped us cut down on excess inventory and vastly improved the way we run our operations. Best of all, Bindo’s integrated mobile credit card processing allows our servers to take orders and payments at the table, making way for that ‘wow’ factor and allowing for a better dining experience for our customers.”
“We met with so many restaurateurs who were fed up with the choice of POS systems available (both iPad & traditional POS). The iPad POS systems in the market were not sophisticated or robust enough for their needs, and the traditional systems were expensive, inflexible and difficult to use,” said Brad Lauster, Co-founder of Bindo. “Bindo POS for Restaurant fills that gap in the market with a solution that’s powerful, customizable and a pleasure to use.”
The investors that led the new funding round have decades of operational expertise in the F&B industry, and played a pivotal role in fine-tuning the customizations needed for the many restaurant-types supported by Bindo’s solution. Bindo POS for Restaurant will be available for use in private beta by signing up on bindopos.com or calling 1-800-MYBINDO.
A quick demo of the Bindo POS for Restaurant technology is also available upon request.
Founded in 2011, Bindo is the one-stop iPad Point-of-Sale (POS) solution that connects local brick-and-mortar merchants to their customers, giving businesses a more cohesive and competitive technology solution that complements the ever-changing and dynamic needs of their consumers. With Bindo POS, businesses will be able to better manage their stores, keep track of their customers and have access to sophisticated tools to allow their business be run more efficiently. Coming soon, the Bindo Market iPhone app will allow everyday consumers to make on-demand delivery purchases directly on their smartphones, thereby closing the Online-to-Offline loop for merchants.
CONTACT: Catherine Lowe, North 6th Agency, Inc. (For Bindo), +1-917-916-2609, email@example.com
My Thoughts on the Above:
Obviously the funding and restaurant specific version of Bindo is pretty cool news given the popularity of Bindo on the retail side. Even though there are a bunch of mobile POS systems for restaurants, Bindo brings that right balance of price/feature/function as well as not being a company that has outgrown themselves to the point of having to outsource technical support to India.
Bindo also has the drive to win customers and clients one at a time versus 'turning and burning'.
There is some other big news related to Bindo that is very positive as well which I hope to be able to share in a few more weeks.
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