Loop, a leading SaaS provider focused on optimizing third-party delivery service profitability for restaurants, has secured $6M in Seed funding. This funding round was led by Base10 Partners, with participation from Afore Capital, to support Loop’s continued growth and commitment to partnering with restaurant brands.
The co-founders of Loop have firsthand experience in the restaurant industry, having faced the challenges of back-office reconciliation and digital food delivery. With this new funding, Loop aims to expand its suite of products to better serve restaurants of all sizes in managing their complex back-office needs.
Loop utilizes AI-powered technology to help restaurants maximize their revenue from third-party delivery services. By automating processes and leveraging advanced AI capabilities, Loop is able to help restaurants reduce costly accounting expenses and improve overall operational efficiency.
Third-party delivery services have become a significant revenue stream for restaurants, accounting for more than 25% of total revenue for many brands. However, the high commissions paid to delivery platforms and issues with order accuracy can impact profitability. Loop’s solutions are designed to help restaurants navigate these challenges and optimize their delivery operations for sustainable profitability.
We are on a mission to make third-party delivery as profitable as possible for restaurant operators of all sizes, said Anand Tumuluru, co-founder and CEO of Loop. Our platform provides real-time insights into cash flow, order management, and operational levers that restaurants can use to enhance their financial outcomes.
With this new funding, Loop aims to continue partnering with top restaurant brands and further develop its suite of products to address the evolving needs of the industry. By focusing on operational excellence and financial optimization, Loop is helping restaurants navigate the complexities of third-party delivery and maximize their profitability in this rapidly growing market.
To learn more about Loop and its AI-powered back-office platform, visit TryLoop.ai.
