SVG Partners partakes in US$3.2m investment in big data for foodies player Posiq

16 May 2014

SVG Partners, the Irish Technology Leadership Group’s spin-out venture-capital firm, has taken part in a US$3.2m Series A investment in Posiq, a big-data player focused on helping restaurants and brands build deeper customer relationships.

“The restaurant industry is inundated with loyalty gimmicks, email or text-blasting programmes, and mobile apps that do not deliver meaningful results,” said Rick Onyon, Posiq’s founder and CEO.

San Jose, California-based Posiq’s proprietary CRM service leverages an advanced cloud platform that connects with existing on-premise, PC, tablet or cloud-based point-of-sale systems already in use by the restaurant industry.

It also leverages mobile phone technology to seamlessly monitor and engage guests each time they visit, learning detailed purchase habits, brand and dietary preferences, as well as demographic and social profiles.

Digitally delicious

“Posiq leverages big data and advanced technology to help restaurants communicate and engage in an incredibly personalised way,” Onyon added. “Just the right message, to the right guest, at the right time. This simple approach vastly improves the guest experience and grows restaurant revenues at the same time.”

Thayer Ventures led the investment in Posiq, with participation by SVG Partners and various angel investors.

“The Posiq team is as good as they come,” said John Stanton, general partner, SVG.

“Their deep technology experience coupled with the passion for delivering significant value to restaurants is unmatched.

“The Posiq solution and approach really demonstrates that technology can be both powerful and amazingly simple when you take the time to build it right.”

Venture capital image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years