Ovation Closes Seed Round of $3.2 Million
Orem, UT November 18, 2021: Ovation, a technology startup recently voted #1 guest feedback solution for restaurants, today announced their $1.9M seed round of funding, bringing total funding to over $3.2 million. Led by Branded Strategic Hospitality, the investment will allow Ovation to continue building its guest feedback platform which drives revenue for restaurants by improving customer experience.
Ovation revolutionized the feedback space with a 2-question omni-channel SMS-based survey, which immediately gets to the heart of guests’ experience by simply asking, “How was everything?” Powerful analytics and post-experience causation-based surveys enable restaurants to understand specifically how to improve. There is a 18x higher engagement rate than long-form surveys and a 16x higher recovery rate than responding to online reviews. Domino’s, Burger King, Sticky’s, Mo’ Bettahs and more than a thousand restaurants are using Ovation to provide true digital hospitality.
With all major investors reinvesting in this latest round, including Branded Strategic Hospitality, Monta Vista Capital, Rocky Woods Investments, and new investors such as Rob Reed, the founder of MomentFeed, there is a wealth of confidence in Ovation’s future in the industry.
Jimmy Frischling, Managing Partner & Co-Founder of Branded Strategic shared, “We are not only Ovation investors, but customers in our own restaurants. We believe in what Ovation is doing and have loved working with the team! They truly understand our space because they are restaurant people.”
Founder and CEO, Zack Oates said, “From day one, our main objective has been to drive value, and this funding enables us to accelerate that value. We are thrilled with our investment partners and taking Ovation to the next level.”
In the last 18 months, Ovation has added over 600 customers, 43 integrations, and experienced 460% growth, all while retaining a net negative churn rate and world-class customer satisfaction scores.
About Ovation: Voted the #1 guest feedback platform in a nationwide RestaurantOwner.com survey, Ovation uses a 2-question SMS-based survey as a “digital table touch” that has redefined guest feedback. Through frictionless integrations with online ordering platforms and other tools, Ovation allows restaurants to easily resolve guest concerns in real-time, get more 5-star reviews, discover insights to improve, and drive revenue. To learn more, visit www.ovationup.com or email email@example.com.
About Branded Strategic Hospitality: Founded in 2017, Branded Strategic Hospitality is a New York City-based investment and advisory firm focused on early- and growth-stage technology in the restaurant and hospitality industries. Led by 25-year hospitality veteran Michael “Schatzy” Schatzberg and financial expert Jimmy Frischling, Branded has become the insider for the industry’s hottest emerging technology and strategically invests in companies that are allies to owners and operators, addressing their most critical challenges and opportunities while driving sales, reducing costs, and addressing compliance issues. Branded brings value to its partner companies through financial capital, strategic counsel, and its deep industry expertise and connections to accelerate growth.
Branded’s portfolio currently includes 28 investments, including Ovation, Chowly, TapRm, PourMyBeer, Minnow, and Bbot. In 2021, Branded invested in its first restaurant concept, Mighty Quinn’s BBQ, and launched B WORKS, an exclusive accelerator and coworking space for its partner companies housed in its New York City headquarters. Branded also operates the Branded Hospitality Marketplace, a digital e-commerce platform providing best-in-class technology, innovation, professional services, and suppliers for the food and beverage segment. For more information on Branded Strategic Hospitality, visit www.brandedstrategic.com. To subscribe to Branded’s podcast, “Hospitality Hangout,” visit www.foodabletv.com/hospitality-hangout.