Flipdish, an online ordering and digital experience platform for the hospitality space, received a $100 million investment led by Tencent raising its valuation to more than $1.25 billion. This comes after the Dublin-based company received a $48.5 million investment from Tiger Global Management nearly a year ago.
The investment will be used to grow global operations, fund R&D in products that improve the hospitality industry’s digital experience for consumers, and support new customers like hotels, stadiums, movie theaters and airports.
Founded by brothers Conor and James McCarthy in 2015, Flipdish powers QR code ordering and payment at the table, online ordering for pick-up and delivery, self-service kiosks, customer loyalty programs, and digital marketing.
“Digitization has been transforming the hospitality sector for years,” said Conor McCarthy, Flipdish co-founder and CEO. “The ongoing pandemic has further accelerated the trend with hospitality businesses becoming increasingly dependent on digital experiences to attract and retain customers. Our investment will help us to empower more hospitality businesses around the world to grow with the best-in-class technology.”
Tencent will join existing Flipdish investors Tiger Global, Global Founders Capital, Elkstone, Enterprise Ireland and Growing Capital.
Flipdish operates in 25 countries, including the United States, Canada, France, Germany, Ireland and the United Kingdom, with thousands of independent restaurant customers as well as major brands, such as All Day Kitchens and Popchew.
As part of the investment, Flipdish will be hiring 700 people in 2022. The majority are technology roles such as software architects, data scientists, engineers, and product designers. Others include a host of commercial roles.