Juicer Secures $5.3 Million in Seed Funding to Revolutionize Restaurant Pricing with AI

York IE Leads restaurant revenue management seed round

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Juicer, a leading innovator in restaurant revenue management and pricing solutions, proudly announces the successful closure of its seed funding round, raising an impressive $5.3 million. This milestone funding round was led by York IE, with significant contributions from Augment Ventures, Mudita Venture Partners, and a prestigious group of operators and investors. Among them are Athletic Greens President Kat Cole, Kayak co-founder Paul English, 16 Handles founder Solomon Choi, former Postmates GM Andreas Lieber, ex-Two Roads Hospitality CEO Jamie Sabatier, Andy Phorzheimer, Kitchen Fund, and Branded Strategic Hospitality.

Juicer plans to utilize the funds to further accelerate the development of its advanced tools and data analytics, aimed at empowering restaurant operators in the digital era. Co-founded by Drew Patterson and Ashwin Kamlani, Juicer is redefining restaurant revenue management and competitive intelligence with its cutting-edge AI and machine learning algorithms. These technologies enable restaurants to optimize their pricing strategies, offering clear and predictable pricing to consumers, and providing a solution for the industry’s pressing challenges of balancing traffic and margins.

With products like JUICER Pricing, an algorithmic price optimization engine, and JUICER Compete, an AI-driven competitive intelligence tool, Juicer is set to enhance its offerings. These solutions allow restaurants to dynamically adjust prices based on demand, compare menu prices with local competitors, and analyze bundles and value meals, ultimately aiming to boost same-store sales by 5% to 10%.

Marshall Everson, Vice President of Investments & Strategy at York IE, will join Juicer’s board, endorsing the startup's vision. "Juicer is at the forefront of a fundamental shift in how restaurants operate and compete," Everson stated, recognizing the startup's potential to address the industry's immediate challenges through data-driven strategies.

Juicer's innovative approach, branded as "data-driven happy hours," moves away from the controversy of "surge pricing," offering a more consumer-friendly model that leverages low prices during off-peak times to manage demand and enhance customer satisfaction. This strategy has garnered support, with a recent National Restaurant Association report indicating a favorable view of dynamic pricing among 61% of adults.

Ashwin Kamlani, Juicer’s co-founder and CEO, emphasized the critical juncture at which the restaurant industry finds itself. "The restaurant industry is at an inflection point, and operators who embrace the power of data and technology will be the ones to thrive," he remarked, highlighting the company’s commitment to advancing its technology and expanding its team.

This funding round represents a significant vote of confidence in Juicer's mission to transform the restaurant industry through data and technology, promising a new era of profitability and consumer satisfaction.

About JUICER Pricing

Juicer is a San Francisco-based startup that provides sophisticated restaurant revenue management and pricing solutions. Leveraging AI and machine learning, Juicer helps restaurants optimize their pricing and competitive positioning in real-time, adapting to the evolving digital marketplace. Founded by industry veterans Drew Patterson and Ashwin Kamlani, Juicer is committed to enhancing the dining experience for consumers while improving profitability for restaurant operators.