Zenput secures USD27m in Series C financing round
Zenput, a specialist in operations execution solutions, has secured USD27 million in a Series C financing round led by Golub Capital with participation by existing investors, including Jackson Square Ventures, MHS Capital, and Goldcrest Capital.
This brings the company’s total funding to over USD47 million, on the heels of approximately 100 per cent revenue growth over the past year.
Founded in 2012, Zenput’s cloud-based operations execution platform is now used in over 60,000 locations across 100-plus countries by regional and global multi-unit operators, including Chipotle, Domino’s, PF Chang’s, Five Guys, Smart & Final, and 7-Eleven, to automate how operating procedures, food safety, and public health protocols, and other key initiatives are rolled out and enforced. Given the distributed nature of their operations, restaurant, convenience store, and grocery chains typically struggle to quickly adapt to changing market conditions and have limited visibility into the quality of work happening in each store.
“Vladik and team have built Zenput into a fast-growing category leader, and they’ve done so in an incredibly capital-efficient way,” says Andy Steuerman, Vice Chair at Golub Capital. “We’re excited to leverage our software industry expertise to work with them to build on the company’s success going forward.”
“The challenges of the past year really underscored for our customers the criticality of being able to manage the complexities and overall execution of work in one central place, especially when an operator might have dozens, hundreds or thousands of locations,” says Vladik Rikhter, CEO and Co-Founder. “With this round of funding we’ll continue to invest to extend our platform in a range of areas that empower customers to drive quality execution every day, in every store.”