CoverManager Company Profile

Background

Company Overview

CoverManager, established in 2015 and headquartered in Seville, Spain, is a technology company specializing in reservation and ticket management solutions for the hospitality industry. The company offers a comprehensive suite of services designed to optimize operations for restaurants, nightlife venues, beach clubs, large events, chains, and hotel food and beverage departments. CoverManager's mission is to enhance the efficiency and profitability of hospitality businesses by providing innovative, user-friendly tools that streamline reservation processes and improve customer experiences.

Key Strategic Focus

Core Objectives and Specializations

CoverManager focuses on delivering end-to-end solutions that centralize booking management, automate reservations, and optimize table utilization. The platform integrates various functionalities, including:

• Online Reservations: Enables businesses to receive bookings through commission-free channels.

• Virtual Assistant (Bot.ai): Automates phone reservations with a 24/7 multilingual virtual voice assistant.

• Payments and Ticket Management: Facilitates online payments for reservations and event tickets, including advance menu selections.

• Channel Management: Connects establishments with leading food apps and booking platforms to attract more customers.

• Virtual Queue (OnTheGo): Manages walk-in customers with a virtual waitlist, notifying them via SMS when their table is ready.

• Customer Relationship Management (CRM): Maintains a comprehensive customer database synchronized across all business operations, providing insights into customer preferences and behaviors.

Primary Markets

Initially serving high-end restaurants in Spain, CoverManager has expanded its reach to over 8,000 restaurants across 25 countries, including regions such as Italy, Portugal, Greece, and Latin America. The company has also entered the DACH region through the acquisition of Seatris in Germany.

Financials and Funding

Funding History

CoverManager has successfully secured multiple funding rounds to support its growth and international expansion:

• May 2022: Raised €35 million, valuing the company at €150 million.

• December 2022: Secured an additional €17 million in a Series A extension, bringing the total funding to €52 million.

Notable Investors

The funding rounds saw participation from prominent investors, including:

• GP Bullhound: Led the €17 million Series A extension to support internationalization efforts.

• Angel Investors: Félix Ruiz (Playtomic, JobandTalent, Tuenti, Auro), Paco Ávila (Medac), Javier Gutiérrez (Grupo Dani García), and Fernando Martínez (Alia Capital Partners).

Utilization of Capital

The capital raised is intended to:

• Accelerate international expansion.

• Enhance product offerings.

• Strengthen market position in existing regions.

Technological Platform and Innovation

Proprietary Technologies

CoverManager's platform is distinguished by several proprietary technologies:

• Bot.ai: A virtual voice assistant that automates phone reservations, operating 24/7 in multiple languages.

• OnTheGo: A virtual queue system for managing walk-in customers, reducing wait times and improving customer satisfaction.

• Integrated CRM: A centralized customer database that provides real-time insights into customer preferences and behaviors, enabling personalized experiences.

Scientific Methodologies

The platform employs advanced algorithms to optimize table management, reduce no-shows, and enhance operational efficiency. It integrates with various point-of-sale (POS) and property management systems (PMS) to provide a seamless operational experience.

Leadership Team

Executive Profiles

• José Antonio Pérez Moral: Co-Founder and Chief Executive Officer. Brings extensive experience in technology and hospitality management.

• Carlos Pérez Fernández: Co-Founder and Chief Technology Officer. Specializes in developing scalable technology solutions for the hospitality industry.

• Javier Díaz: Chief Product Officer. Oversees product development and innovation strategies.

• Vivien Richter: Director of Marketing & Business Strategy. Leads marketing initiatives and business development efforts.

Competitor Profile

Market Insights and Dynamics

The hospitality technology sector is experiencing significant growth, driven by the increasing demand for digital solutions that enhance operational efficiency and customer engagement. The global restaurant management software market is projected to continue expanding as establishments seek to modernize their operations.

Competitor Analysis

CoverManager operates in a competitive landscape with several key players:

• OpenTable for Restaurants: Offers a comprehensive reservation and guest management platform, widely adopted across various markets.

• Tock: Provides reservation, table management, and event ticketing solutions, catering to a diverse range of hospitality businesses.

• SevenRooms: Delivers a reservation, seating, and guest management platform focused on enhancing customer relationships and experiences.

• Yelp Guest Manager: Integrates reservation and waitlist management with Yelp's extensive user network.