Ordering app, ROUND, launches on Crowdcube
ROUND, an ordering app, launches its public phase of investment via the online platform Crowdcube. So far, the app has been able to raise £3.3m from experienced investors but looks for further investment to expand its business horizons.
The 'Uber' of in-venue ordering, ROUND allows users to purchase food and drink from their phone, making ordering easier for both customers and venues. ROUND is disrupting how we purchase in-venue, making it easier for customers and businesses to spend and earn, increasing convenience and revenue.
With £30m+ in-app orders in the past twelve months, and with over 1,000 venues, and 45,000 five star reviews, the app has been revolutionising both the experience people have in venues and the way venues operate.
The private investment phase launched on 25th October, aimed at ROUND’s existing customers, but as of today has been opened to the public to have a chance to invest in this forward-thinking brand. This investment will allow the business to develop further features to capitalise on its position as the dominant player in hospitality ordering tech.
ROUND solves key issues for both venues and consumers alike. For the consumer, it might be lost time queuing at the bar. Whereas for the venue, lost sales and poor customer service due to queueing and the inability to upsell, can all be a serious concern for those getting back on their feet post-COVID. ROUND helps venues increase their sales by 17%.
ROUND was developed pre-COVID. But the pandemic has accelerated the hospitality industry’s adoption of ordering tech. And with the most proven technology on the market, ROUND has been able to take advantage of a generational shift in how we socialise.
Ethan Martin, CEO and Co-Founder of ROUND said: “Just Eat owns the out-of-venue market; delivering from the venue to your home. I wanted to own the in-venue experience. As a modern-day consumer, the primary in-venue problem is frustration caused by lost time e.g. queuing at the bar and getting served.
"As a venue operator the in-venue problems are; lost sales and poor customer service due to queueing, inability to upsell, inefficiency of staff and a lack of access to behavioural data. ROUND solves both. Consumer and venue demand is clear. Increased digitalisation for hospitality will help the industry move forward, allowing venues to manage the demanding workload and make up lost revenue - while creating a better experience for their customers.”
Harry Soar, Co-Founder and CPO stated: “The investment round for us is extremely exciting and important to what we have planned. Being a company that wants to improve both consumer and venue experience in hospitality, our top priority is customer experience and journey through the app. Our system is robust - on the day of the Euros Final, our platform was so busy that we processed four transactions per second, for four hours straight. ROUND is on a mission to digitalise the hospitality sector, and we are succeeding”
Andrew Pepper, Chair of ROUND said: “Having worked with lots of businesses/industries over the last 30 years, I was immediately enthused by the way our system disrupts & improves the traditional buying process between the customer and venue. With 45,000 five star reviews, it is clear that our customer base feels the same.
From a shareholder perspective, the granular end-consumer data that we generate, will enable brands and venue owners to understand their customers like never before - providing exciting opportunities for revenue and value creation.”