Chowbus Raises $81M to Scale its AI-powered Restaurant Platform
HPA is pleased to share that Chowbus, an HPA portfolio company, has announced an $81M financing round led by Prysm Capital and Left Lane Capital, with participation from Dutchess, Fika, and Avid Bank. HPA has supported Chowbus since its Series Seed investment in 2019, and we are excited to see the company reach this important milestone.
Founded in Chicago, Chowbus has built a full-stack technology platform designed specifically for culturally rooted restaurants. The platform provides POS, payments, marketing, and operational software that helps independent restaurant operators streamline operations, reach new customers, and grow revenue. Today, the company supports thousands of restaurants across North America and has scaled to more than $120M in ARR and approximately $4B in annualized transaction volume.
“Restaurants are facing increasing operational complexity, from staffing and supply chain challenges to rising customer expectations,” said Linxin Wen, Founder and CEO of Chowbus. “Our goal is to build the operating system for culturally rooted restaurants, giving operators the tools they need to run more efficiently, grow their businesses, and better serve their communities.”
The new capital will be used to accelerate AI-driven product development, expand the company’s restaurant operating system platform, and support continued growth across North America. Chowbus is investing in new capabilities across marketing automation, operational analytics, accounting workflows, and supply chain tools, further expanding the platform that restaurants rely on to manage and grow their businesses.
On behalf of HPA, we congratulate the Chowbus team on this milestone and look forward to supporting the company’s continued growth.
Read more about it here: Press Release