COMPANY INFO
Presto, legally known as Presto Phoenix, Inc., was founded in 2008 by Rajat Suri in Massachusetts. It is a software development company headquartered in San Carlos, California, with approximately 51-200 employees. Presto provides enterprise-grade AI and automation solutions primarily for the restaurant industry, specializing in drive-thru voice automation and customer-facing technology platforms that include computer vision, speech recognition, and AI to enhance restaurant operations and customer experience. Their website is https://presto.com.
Presto Technologies, Inc. is a leading software development company founded in 2008 by Rajat Suri. Headquartered in San Carlos, California, Presto specializes in enterprise-grade AI and automation solutions tailored for the restaurant industry, with a strong focus on drive-thru voice automation and customer-facing technology platforms. Leveraging advanced computer vision, speech recognition, and artificial intelligence, the company empowers restaurants to enhance operational efficiency and deliver superior customer experiences. Presto employs approximately 137 people and serves a growing client base across North America.
Presto Technologies, Inc. has cultivated a robust funding history, raising a total of $82.6 million over ten distinct funding rounds. The company has strategically navigated multiple financing avenues, including traditional venture capital, post-IPO rounds, and debt financing. Notable milestones include a $30 million Series C round to fuel market expansion and the securing of substantial post-IPO investments to further scale operations and technology development. Presto’s funding strategy demonstrates a strong commitment to innovation within restaurant technology, consistently drawing interest from a diverse set of leading investors focused on AI and automation.
This latest post-IPO round was secured to support Presto’s ongoing growth initiatives and operational activities following its public listing.
Led by existing investors REMUS and Krishna K Gupta, this round was aimed at continued expansion and the advancement of product development, reinforcing the company’s presence in AI-driven restaurant solutions.
A post-IPO funding effort focused on scaling business operations and driving further market expansion.
This milestone Series C round, led by Recruit Holdings and Romulus Capital, provided capital to drive market expansion and operational scaling within Presto’s core verticals.
A debt financing round involving Western Alliance Bank and Trinity Capital, earmarked for general capital needs and operational expenditure.
Funding allocated for continued product development and to pursue new market growth opportunities.
Romulus Capital led this Series B round with an emphasis on enhancing product offerings and expanding market reach.
Initial Series A financing was used to propel early product development and support Presto’s market entry strategies.
A seed round dedicated to supporting the company’s initial launch and developing its foundational product technologies.
The inaugural seed round financed Presto’s company formation and earliest stages of product development.
Union Square Ventures is a prominent venture capital firm recognized for supporting transformative technology startups. As a key Presto investor, USV has been instrumental in providing resources and strategic guidance to fuel the company’s growth in AI-driven restaurant technology.
Congruent Ventures focuses on early-stage investments in sustainable and innovative technology companies. Their investment in Presto reflects confidence in the firm's potential to revolutionize restaurant automation and operational efficiency.
Powerhouse Ventures is known for backing innovative tech companies poised to disrupt their industries. As a Presto investor, Powerhouse Ventures’ involvement underscores Presto’s commitment to trailblazing solutions in hospitality automation.
Jetstream is an investor with a focus on high-impact technology startups. Their support for Presto reinforces the company’s position as a leader in AI-powered solutions for the restaurant sector.
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