a year ago

Nory Raises $16 Million to Help Restaurants Manage Staffing and Reduce Costs

  • Hospitality software provider Nory has raised $16 million in Series A funding, bringing its total raised to $25 million

  • The company offers a proprietary ML-powered platform for hospitality businesses to manage and scale operations and centralize data

  • Nory's technology predicts hourly venue demand for each day based on historical data matched with AI algorithms, taking into account seasonal trends and hyper local live data on weather and events to help restaurants and cafes manage staffing

  • It then matches these predictions to other core workflows like stock management to reduce costs and waste

  • Nory works with businesses like Buns from Home, Jamie Oliver Group and Roasting Plant Coffee across the UK, Europe and the US

  • The investment will be used to accelerate product development and international expansion.

      • ProblemHospitality

      "Restaurants are struggling with tight margins due to rising labour and food costs, with the average restaurant's EBITDA in the UK being just 3% in 2023."

      Solution

      "Nory provides a platform that leverages machine learning to predict hourly venue demand, taking into account historical data, seasonal trends, and live local data, allowing restaurants to optimize staffing and reduce costs and waste."

      Covered on