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Restaurants are scrambling to hire thousands of workers to fill shifts.
Danny Meyer is tackling the crisis differently by investing in labor retention tool, 7shifts. Retention is truly the name of the game, Meyer told Insider.
The restaurant industry is scrambling to find servers, cooks, and fast food cashiers to keep doors open as capacity restrictions lift across the US. But restaurant mogul Danny Meyer is taking a different approach to the crisis – retention. He s using tech from 7shifts to help keep the right people working for him at his New York-based restaurant group Union Square Hospitality. And he s betting more restaurant operators will want to use the restaurant management software.
Labor management platform 7shifts to expand with $21.5 million investment from Danny Meyer’s Enlightened Hospitality Investments Move comes as an explosion of growth and hiring is expected across the restaurant industry in coming months
New York City restaurateur Danny Meyer’s growth equity fund has led a $21.5 million investment in the labor management platform 7shifts, the company said Tuesday.
Enlightened Hospitality Investments, or EHI, the growth equity fund affiliated with Meyer’s Union Square Hospitality Group, or USHG, was joined in the Series B funding round by existing investors Ten Coves Capital, Relay Ventures and Conexus Venture Capital.
For Meyer, whose USHG operates famed concepts such as Gramercy Tavern and Union Square Café, it follows a growing list of investments in technology and other companies that have become key to restaurant operations. The fund, for example, has invested in the ecommerce business Goldbelly, website designer BentoBox, reserva
May 25, 2021
The growth equity fund affiliated with Danny Meyer s Union Square Hospitality Enlightened Hospitality Investments (EHI) was the lead investor of $21.5 million raised by 7shifts, a provider of labor management platform for restaurants, according to a company press release.
EHI s investment follows the implementation of 7shifts across USHG s portfolio of cafes, bars and restaurants and will add EHI to 7shifts board of directors. The round also includes participation from existing investors, Ten Coves Capital, Relay Ventures and Conexus Venture Capital, 7shifts CEO Jordan Boesch said in the release. We are deeply appreciative of our partnership with USHG and EHI, both as a restaurant partner and now as an investor, and believe it is a testament to the value 7shifts provides to restaurateurs and their team members, Boesch said, in the release. As the industry rebuilds, there has never been a more important time for restaurants to get more visibility into labor to
Enlightened Hospitality Investment led $21.5 million funding round with goal of scaling the workforce tech tool
New York City restaurateur Danny Meyer’s growth equity fund has led a $21.5 million investment in the labor management platform 7shifts, the company said Tuesday.
Enlightened Hospitality Investments, or EHI, the growth equity fund affiliated with Meyer’s Union Square Hospitality Group, or USHG, was joined in the Series B funding round by existing investors Ten Coves Capital, Relay Ventures and Conexus Venture Capital.
For Meyer, whose USHG operates famed concepts such as Gramercy Tavern and Union Square Café, it follows a growing list of investments in technology and other companies that have become key to restaurant operations. The fund, for example, has invested in the ecommerce business Goldbelly, website designer BentoBox, reservation platform Resy, the booking site Tripleseat and the identity screening firm Clear.
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