(Atomico) April 19, 2011 – Restorando.com, the online restaurant booking service, announced that it has closed a new round of investment. The fundraising was led by Atomico, the venture capital firm founded by Skype co-founder Niklas Zennström.
Geoffrey Prentice, Partner at Atomico, said: “This investment will help Restorando.com bring its valuable service to restaurants and their customers across Latin America. The company has already gained the backing of outstanding business people and grown quickly, and it’s great to put financial capital behind it. It has an outstanding management team and great potential.”
The company was founded by Frank Martin and Franco Silvetti in 2010. Board members include Hernan Kazah, co-founder of MercadoLibre; Nicolas Szekasy, former CFO of MercadoLibre; Nicolas Berman, VP Marketing & Advertising of MercadoLibre; and Santiago Bilinkis and Andy Freire, founders of Officenet.
Restorando.com means restaurants can receive bookings 24 hours a day. The solution combines an online reservations electronic book with marketing tools and statistics systems. Restorando.com allows restaurants to develop a new sales channel to promote their tables and increase revenue, and customers to make reservations in a much more comfortable and efficient way.
Franco Silvetti, Co-Founder of Restorando.com, said: “By partnering with us, restaurants can dramatically increase the number of customers they attract, and allow existing customers to make reservations at any time of day. Restaurants can also use the service to help target their marketing more effectively, and understand their customer base.”
The company already has operations in Sao Paulo and Buenos Aires, and will soon expand to other markets. It is already working with leading restaurants in these two cities, including Sucre and Cluny among some of the most well-known ones in Buenos Aires.
Restaurants that have partnered with Restorando.com have praised the service. Ruben Gherardi, from Cluny restaurant in Buenos Aires, said: “Restorando.com allows us to offer our customers a more convenient and efficient online booking process. They can check availability in our restaurant and make their reservations using a computer or mobile device connected to the internet. In addition, we can build a customer database and encourage for them to come back soon.”
Restorando.com has also signed local agreements major cities. For example, in Buenos Aires, it has an agreement with Guía Oleo, the online restaurant guide opinion leader.
Restorando.com is the first online reservation website for Restaurants in Latin America. The company was founded by Frank Martin and Franco Silvetti in October 2010, aiming to address the lack of efficiency in the reservation process at Restaurants. The company has operations in Buenos Aires and Sao Paulo, planning to expand to new gastronomic clusters in the region. The venture capital firm Atomico (led by Skype Co-Founder Niklas Zennstrom) is found among their investors.
About Atomico Ventures
Atomico is a leading international venture capital firm formed in 2006 by Niklas Zennström, a successful serial-entrepreneur and co-founder of Skype, Kazaa, Rdio and other companies. Atomico seeks to deliver outsized returns to investors by being the partner, and investor of choice, for fast-growing technology companies that will become global category winners. It has to date invested in more than 40 companies on three continents, and in March 2010 launched its second fund, the $165m institutional fund Atomico Ventures II. Atomico is headquartered in London with offices in São Paulo and Hong Kong. For more information: www.atomico.com