me&u Company Profile

Background

Overview

me&u is a hospitality technology company founded in 2018, specializing in digital ordering and payment solutions for the restaurant and hospitality industry. The company offers a platform that enables diners to access visual menus via QR codes, place orders, and make payments directly from their smartphones, enhancing the dining experience by reducing wait times and improving operational efficiency. me&u's mission is to empower venues to deliver exceptional guest experiences and drive revenue growth through innovative technology solutions. The company's vision is to become a global leader in hospitality technology, transforming the way people dine out.

Industry Significance

me&u has significantly impacted the hospitality industry by modernizing the traditional dining experience. Its platform has been adopted by over 6,000 venues worldwide, including bars, pubs, and restaurants, facilitating seamless ordering and payment processes. The company's innovative approach has set a new standard for customer engagement and operational efficiency in the hospitality sector.

Key Strategic Focus

Core Objectives

me&u aims to revolutionize the dining experience by providing a user-friendly platform that streamlines ordering and payment processes, thereby increasing customer satisfaction and venue revenue. The company focuses on expanding its global footprint, enhancing product offerings, and fostering strong partnerships within the hospitality industry.

Areas of Specialization

me&u specializes in digital ordering and payment solutions, offering features such as:

• QR Code Ordering: Enables diners to access digital menus and place orders directly from their smartphones.

• Integrated Payments: Allows customers to pay bills securely through the app, reducing wait times and improving table turnover.

• Upselling Tools: Provides venues with tools to suggest additional items to customers, increasing average order value.

• Customer Relationship Management (CRM): Offers venues insights into customer preferences and spending habits, facilitating targeted marketing efforts.

Key Technologies Utilized

me&u leverages a modern technology stack, including:

• Cloud Infrastructure: Utilizes Amazon Web Services (AWS) for scalable and reliable hosting solutions.

• Mobile Application Development: Develops native applications for iOS and Android platforms to ensure seamless user experiences.

• Data Analytics: Employs data analytics tools to provide venues with actionable insights into customer behavior and operational performance.

Primary Markets Targeted

me&u primarily targets the hospitality industry, focusing on:

• Restaurants: From casual dining to fine dining establishments seeking to enhance customer engagement and streamline operations.

• Bars and Pubs: Venues aiming to improve service efficiency and increase revenue through digital ordering solutions.

• Food Halls and Multi-Vendor Venues: Complexes requiring integrated ordering and payment systems to manage multiple vendors and customer interactions.

Financials and Funding

Funding History

me&u has secured significant funding to support its growth and expansion:

• Series B Round (December 2019): Raised $8 million AUD from high-profile investors, including Merivale's Justin Hemmes and Tyro Payments' Robbie Cooke.

• Series C Round (December 2022): Led by Acorn Capital, with participation from other investors.

• Merger with Mr Yum (November 2023): me&u merged with its competitor Mr Yum, combining resources to strengthen their position in the market.

Total Funds Raised

me&u has raised a total of approximately $47.7 million AUD across multiple funding rounds.

Notable Investors

The company's investors include:

• Acorn Capital: A venture capital firm specializing in early-stage investments.

• Airtree Ventures: A leading venture capital firm in Australia.

• Clifford Rosenberg: Former Managing Director of LinkedIn Asia Pacific.

• Commerce Ventures: A venture capital firm focusing on commerce and fintech investments.

• Conduit Connect: An impact investing firm.

Utilization of Capital

The funds raised have been utilized for:

• Product Development: Enhancing the platform's features and user experience.

• Market Expansion: Entering new international markets, including the UK and the US.

• Operational Scaling: Building infrastructure to support a growing user base and venue partnerships.

Pipeline Development

Key Pipeline Candidates

me&u's primary focus is on:

• Product Enhancements: Developing new features to improve user engagement and operational efficiency for venues.

• Geographical Expansion: Increasing presence in existing markets and entering new regions to broaden the customer base.

Stages of Development

The company is in the growth and scaling phase, focusing on:

• Product Refinement: Continuously improving the platform based on user feedback and market demands.

• Market Penetration: Strengthening its position in current markets and establishing a foothold in new territories.

Target Conditions

me&u aims to address:

• Operational Inefficiencies: Streamlining ordering and payment processes to reduce wait times and errors.

• Customer Engagement: Enhancing the dining experience to increase customer satisfaction and loyalty.

• Revenue Growth: Providing venues with tools to boost sales through upselling and improved table turnover.

Anticipated Milestones

Key milestones include:

• Product Launches: Introducing new features and integrations to meet evolving market needs.

• Market Expansion: Establishing partnerships with additional venues and entering new geographical areas.

• User Growth: Increasing the number of active users and venues utilizing the platform.

Technological Platform and Innovation

Proprietary Technologies

me&u's platform includes:

• QR Code Ordering System: Allows diners to access digital menus and place orders via their smartphones.

• Integrated Payment Gateway: Enables secure and efficient payment processing directly through the app.

• Upselling Engine: Suggests additional items to customers, increasing average order value.

• CRM System: Provides venues with insights into customer behavior and preferences.

Significant Scientific Methods

The company employs:

• Data Analytics: Analyzing customer data to inform product development and marketing strategies.

• User Experience Research: Conducting studies to optimize the platform's usability and effectiveness.

AI-Driven Capabilities

me&u utilizes AI for:

• Personalized Recommendations: Offering tailored menu suggestions based on customer preferences and ordering history.

• Operational Insights: Providing venues with data-driven recommendations to improve service efficiency and customer satisfaction.

Leadership Team

Executive Profiles

• Kim Teo: Co-Founder and CEO. Kim has a background in hospitality and technology, having previously co-founded Mr Yum, a mobile ordering platform. She has been instrumental in me&u's growth and strategic direction.

• Stevan Premutico: Founder. Stevan is the founder of Dimmi, an online restaurant reservation platform, and has extensive experience in the hospitality technology sector.

• Kishan Modi: Chief Product Officer. Kishan leads product development, focusing on enhancing the platform's features and user experience.

• T. R.: Chief Technology Officer. T. R. oversees the technical aspects of the platform, ensuring scalability and reliability.

• D. E.: Chief Financial Officer. D. E. manages financial operations, including funding strategies and financial planning.

Leadership Changes

In November 2023, me&u merged with Mr Yum, combining resources and leadership teams to strengthen their position in the market.

Competitor Profile

Market Insights and Dynamics

The digital ordering and payment solutions market in the hospitality industry is experiencing rapid growth, driven by the increasing adoption of technology to enhance customer experiences and operational efficiency. me&u competes with several companies offering similar services, including:

• Zomato: A global restaurant discovery and food delivery platform.

• Slice: A digital ordering platform catering primarily to independent pizzerias and local restaurants.

• Mr Yum: A competitor specializing in QR code ordering and payment solutions, which merged with me&u in 2023 to consolidate market presence.

Competitive Positioning

me&u differentiates itself by focusing on user experience, integrating upselling tools, and providing venues with CRM capabilities to better understand customer behavior. The merger with Mr Yum combined two strong technology platforms and leadership teams, enhancing their collective ability to innovate and serve the hospitality industry on a global scale.

Market Trends

• Growing demand for contactless ordering and payment solutions.

• Increased emphasis on operational efficiency in hospitality venues.

• Adoption of AI-driven personalization and data analytics.

• Expansion into complex venue environments such as food halls and multi-vendor spaces.

Technological Advancements

Competitors likewise invest in cloud-based infrastructure, native mobile applications, and AI capabilities to provide personalized customer experiences and actionable business insights for venues.

Leadership in the Sector

me&u's management team, with backgrounds in hospitality technology and entrepreneurship, positions the company to capitalize on market opportunities and address industry challenges through continuous innovation and strategic partnerships.