Seated is a mobile application that rewards users for dining out, ordering pickup, or getting delivery from local restaurants. As the first dynamic pricing platform for restaurants, Seated helps fill their seats while providing members with rewards to top brands and unique experiences. The company's mission is to support local restaurants by driving demand and ensuring their continued success through innovative technology solutions.
Key Strategic Focus
Seated's strategic focus centers on enhancing restaurant occupancy and profitability by offering a dynamic pricing platform that incentivizes customers through rewards. The platform caters to dine-in, pickup, and delivery services, thereby addressing multiple revenue streams for restaurant partners. By leveraging data-driven algorithms, Seated optimizes customer traffic and provides personalized incentives, fostering a loyal member community that supports local dining establishments.
Financials and Funding
Since its inception in 2017, Seated has secured significant funding to fuel its growth and expansion. In August 2020, the company raised $30 million in a funding round led by Insight Partners, with participation from Craft Ventures, Greycroft, and Rho Capital Partners. This capital infusion was aimed at building out the platform and developing new products to better serve restaurant partners and users.
Technological Platform and Innovation
Seated distinguishes itself through its proprietary dynamic pricing platform, which utilizes advanced technology to drive demand to over 1,000 restaurant partners across four U.S. markets. The platform's tech stack includes tools such as Hotjar, Looker, and Figma, enabling the company to analyze user behavior, optimize user experience, and implement data-driven strategies effectively.
Leadership Team
- Brice Gumpel: Co-Founder & Chief Executive Officer. Brice has a background in economics and finance, having worked as a financial analyst at Nomura before venturing into the restaurant tech industry.
- Bo Peabody: Co-Founder & Executive Chairman. Bo is a seasoned tech executive with over 25 years of experience in the restaurant industry, bringing valuable insights and leadership to Seated.
- Shahzad Umar: Chief Technology Officer. Shahzad leads the technological development and innovation strategies at Seated.
- Sam Hamilton: Chief of Staff & Vice President Strategy. Sam oversees strategic initiatives and operational efficiencies within the company.
- Patrick Lucas: Head of Finance. Patrick manages the financial planning and analysis, ensuring fiscal responsibility and growth.
Competitor Profile
Market Insights and Dynamics: The restaurant reservation and rewards industry is highly competitive, with several key players offering various services to enhance dining experiences and restaurant profitability.
Competitor Analysis:
- OpenTable: A well-established platform offering online restaurant reservations, OpenTable provides a comprehensive network of dining options and has a significant market presence.
- Resy: Acquired by American Express, Resy focuses on providing reservation services with a user-friendly interface and exclusive dining experiences.
- Tock: Specializing in reservations, takeout, and event management, Tock offers a versatile platform for both diners and restaurant operators.
- ChowNow: Emphasizing commission-free online ordering, ChowNow supports restaurants in building their own branded ordering systems.
Seated differentiates itself by integrating dynamic pricing and rewards, directly incentivizing customer behavior to benefit restaurant partners.
Strategic Collaborations and Partnerships
In August 2020, Seated acquired VenueBook, a digital event booking company, to expand its services into private event bookings. This acquisition allows restaurants to offer consumers and businesses rewards for booking private events, thereby diversifying revenue streams and enhancing market position.
Operational Insights
Seated's dynamic pricing model and reward system provide a distinct competitive advantage by directly influencing customer decisions and driving traffic during off-peak times. This approach not only benefits restaurant partners by optimizing occupancy rates but also enhances customer loyalty through tangible rewards.
Strategic Opportunities and Future Directions
Looking ahead, Seated aims to continue expanding its platform by integrating more restaurant partners and entering new markets. The company is focused on leveraging its technological capabilities to offer personalized dining experiences and further support the restaurant industry's growth and resilience.
Contact Information
- Website: www.seatedapp.io
- Instagram: @getseated
- Email: support@seatedapp.io
- Text Support: 617-500-0852
