$4M Round to Fuel Team and Program Growth, Further Improving Recruiting & Retention for the Hospitality Industry
SCOTTSDALE, Ariz., July 25, 2024 /PRNewswire/ — In Revenue Capital, the first operator-immersive capital firm focused on early-growth investing, today announces its participation in a $4 million Seed funding round for Grazzy. Joined in the round by Next Coast Ventures, AZ-VC, Tuesday Capital and Iron Skillet Partners, the investment will go toward expanding the startup’s team and programs. Grazzy’s software-as-a-service (SaaS) solution is disrupting the hospitality industry by enabling digital tipping, instant tip-out and inclusive banking solutions. Its executive team includes Russell Lemmer, founder & chief executive officer; Courtney White, vice president marketing, growth & operations; and Adam Levy, vice president, product & engineering.
“We were drawn to Grazzy for a wide variety of reasons, including the company’s impressive market traction and its exceptional product-market fit,” says Justin Gray, co-founder and Managing Partner of In Revenue Capital. “Most of all, we believe in the Grazzy team, a cohort of strong, proven operators with an incredible track record together. Combined with a hyper-value product, we believe the Grazzy and In Revenue teams are natural allies joining together to take this platform further, faster.”
Grazzy’s cloud-based solution empowers hourly employees to make more money, access it the same day and save and spend in better ways. By improving financial wellness for front line workers, Grazzy reduces retention and recruiting costs for hotels, bars, restaurants and salons. The extensible payments platform enables digital tipping, instant tip-outs and banking solutions that are built to scale with hospitality and services businesses of any size.
“This infusion of capital will be a significant boost for Grazzy at a moment of massive growth, so we are extremely grateful for In Revenue Capital’s investment, and excited to leverage their operational expertise as we cross new growth milestones,” said Russell Lemmer, founder and chief executive officer of Grazzy. “The In Revenue team accelerates go to market scale and value with winning SaaS businesses like Grazzy. We can’t wait to work with them to take our business to the next level across all our customer verticals, from hotels, bars and restaurants valets and car washes.”
The hotel digital tipping market represents a significant business opportunity within the expansive digital payment and hospitality technology sectors. Valued at $13.6 billion in 2022, this sector is projected to skyrocket to $49.9 billion by 2027, boasting a remarkable CAGR of 29.8%. The pandemic has notably accelerated the trend towards digitalization in hospitality, including tipping, as the demand for touchless transactions and reduced cash handling has surged. Many hotels are now integrating digital tipping solutions to enhance their contactless guest experience offerings, highlighting a lucrative growth avenue in this rapidly evolving market.
To learn more about In Revenue Capital’s philosophy, and to read the founders’ manifesto, visit inrevenue.capital.
About In Revenue Capital
In Revenue Capital was created as a founder-friendly fix to a broken venture capital (VC) system, in which deals work out well in aggregate for financiers but more often poorly for portfolio companies. Coupling capital with rich go-to-market (GTM) expertise in a true value-add model, the firm offers both funding and embedded operators to help founders and their companies grow and succeed. For more information, please visit inrevenue.capital.
View original content to download multimedia:https://www.prnewswire.com/news-releases/in-revenue-capital-joins-seed-fund-for-promising-tech-startup-grazzy-302206129.html
SOURCE In Revenue Capital
