Chowbus raises $81 million

Chowbus, the all-in-one restaurant POS system, has closed an $81 million funding round led by Prysm Capital and Left Lane Capital, with participation from Dutchess, Fika, and Avid Bank.

Founded in 2016, the company provides POS systems, marketing solutions, and AI-driven tools to restaurants. Chowbus says that it has ~$120 million in annual recurring revenue.

The company plans to expand into the larger market for restaurant services – including marketing, accounting, supply ordering, and insurance.

“Our journey has always been about technology, equality, and reinvention with purpose. The success of our first AI product, AI Digital Ads, has proven that we can help independent restaurants compete at a much higher level. We are now building the next-generation AI restaurant platform to support entrepreneurs, the backbone of our communities. This is the most exciting era for the restaurant industry since the move to cloud-based POS.” – Linxin Wen, CEO of Chowbus.

“Linxin and the Chowbus team have shown exceptional execution, transforming the business into a scaled, mission-critical platform for restaurants. With strong recurring revenue, expanding transaction volume, and a strategic move into AI-driven services, Chowbus is at a clear inflection point. We’re proud to partner with the Chowbus team as they build the next-generation AI platform that empowers operators to compete and grow in an increasingly complex market.” – Kerry Wei, Partner at Prysm Capital.

“Chowbus is leveraging AI to enter these massive service areas, providing 10x better efficiency than traditional solutions, while maintaining the essential human touch required in the hospitality industry. By moving beyond software to become a true operating partner, they’re helping these restaurants compete at a level previously reserved for chains.” – Harley Miller, CEO and Managing Partner of Left Lane Capital.