BR Venture Fund backs Restaurant Revolution Technologies
8/30/2011 12:00:00 AM
Johnson's student-run venture fund invests in emerging leader in restaurant order management technology
BR Venture Fund (BRV)
, an MBA student-run venture fund of Johnson at Cornell University, today announced that it has invested in Restaurant Revolution Technologies (RRT)
, a restaurant order management technology company. BRV joins a group of investors in this capital round with an investment of an undisclosed amount.
RRT’s innovative technology allows them to manage all of their restaurant industry clients’ off-premise takeout and delivery orders. By managing the operations from order to table, RRT’s exceptional service improves the customer experience, eliminating common issues with phone placed orders such as dropped calls and long answer time. RRT’s current clients have seen improved revenue and more satisfied customers at a much lower cost.
“We are excited to have BRV participate in this financing, and look forward to leveraging Cornell’s deep expertise in the hospitality industry,” said Michael Dicks, Chief Executive Officer of RRT. “RRT is well positioned with strong technology and compelling results with our first customers. BRV’s investment will enable us to expand to larger restaurant chains and bring RRT services to thousands of locations.”
“We remain in a time of ramped commercialization of technology and disruptive software that are vastly optimizing business operations. RRT fits this mold, and is an exciting investment for BRV,” said Aaron Holiday, Chief Operating Officer of BRV.
Cornell’s core areas of expertise, engineering and hospitality, align perfectly with RRT’s mission and goals. BRV, an affiliate program of Johnson’s Entrepreneurship and Innovation Institute (EII)
is well positioned to help RRT achieve significant future growth.
“BRV is a powerful example of the experiential learning opportunities that Johnson offers – a wholly unique, true differentiator. We look forward to the success of Restaurant Revolution Technologies,” said Rhett Weiss, executive director of EII.
Zach Casavant, the BRV fund manager who led the firm’s investment in RRT, noted that "both engineering and hospitality are areas of expertise for Cornell. We at BRV have enjoyed working with RRT’s management team thus far and we look forward to helping RRT achieve significant future growth."