86 Repairs raises $15.2 million
86 Repairs, a platform that streamlines and optimizes equipment repair and maintenance for restaurants, has raised $15.2 million in Series A funding led by Storm Ventures, with participation from Savory Fund, Lightbank, TDF Ventures, Gordon Food Service, Cleveland Avenue, MATH Venture Partners, Tamarind Hill, and others.
Founded in 2018, 86 Repairs offers restaurants and other commercial kitchen operators 24/7 support for on-demand repair management, preventative maintenance programs, and access to data-driven insights on repair and maintenance spend via its repair and maintenance management platform.
The Chicago-based startup works with over 2,000 restaurant operators in the US and Canada, from upscale full service restaurants to quick service franchised brands.
“86 Repairs is changing how restaurant operators address this long-standing pain point. When we saw how the market has responded to their solution, we understood that something very special is happening at 86 Repairs, with a seismic impact on the industry.” – Pascale Diaine, partner at Storm Ventures.
“As restaurant operators ourselves, we know how difficult managing R&M can be. We were never able to find a good solution to help us manage and support such a large part of our business until we became an 86 Repairs customer. I’ve seen firsthand how this solution streamlines day-to-day operations, and it’s become a must-have technology for our operational service teams. 86 Repairs is Savory Fund’s first-ever tech investment, and it was worth waiting for. We’re excited to see the company rapidly expand across the industry as more and more operators see the benefits we are experiencing ourselves.” – Andrew Smith, managing director at Savory Fund.
“We’re living through the most challenging period in the history of the restaurant industry, and our customers constantly inspire me with their creativity and grit as they navigate this new reality. I’m proud of the value we’re providing through the 86 Repairs platform, and I’m excited to continue expanding our reach with the support of our world-class investors and team.” – Daniel Estrada, co-founder and CEO of 86 Repairs.
Bottom Line: “[86 Repairs is] kind of like an insurance policy.”