GP Bullhound backs restaurant management portal CoverManager's €52 million raise

Startup now targeting expansion in four Mediterranean markets including Spain/Portugal, in Latin America and in DACH.
GP Bullhound backs restaurant management portal CoverManager's €52 million raise

CoverManager, a hospitality bookings management platform based in Seville, has announced a second close for its latest funding round, bringing its total to €52 million with the help of London-based tech consultancy and investor GP Bullhound.

The startup's software platform allows restaurants and other hospitality ventures to manage online and offline bookings from the point of customer acquisition, allocating in-venue tables, kitchen resources and orders dispatched via home delivery.

CoverManager set out to differentiate its product by using feedback from "demanding high-end restaurants" to inform features development.

The result, claims the startup, is a comprehensive UX that empowers the hospitality venues through features like CRM and delivery rider management, as well as the ability to customise services to the restaurant's requirements.

The platform is currently used by more than 8,000 restaurants. Having secured a "market leader" foothold in Spain, the startup is expanding across Italy, Portugal and Greece (markets with Mediterranean dining traditions,) as well as entering mainly Spanish and Portuguese-speaking Latin America.

CoverManger's recent purchase of the German online reservations player Seatris is expected to create further growth synergies.  At the time of publication Seatris remains active, but its infrastructure is expected to permit CoverManager's expansion across DACH.

CoverManager's CEO and co-founder, José Antonio Pérez Moral, commented: "We are thrilled to welcome GP Bullhound to join us in our journey of building the global technology standard for the hospitality industry, helping restaurants and venues improve their profitability and be closer to their customers." previously reported on CoverManager's €35 million raise in May, likely to have formed the initial tranche in this latest announcement.

GP Bullhound backed the second tranche through its sixth fund vintage, whose other enterprise software bets include the contact centre customer engagement metrics portal Connex One, decision-making AI from London-based causaLens and digital survey creation tool Typeform.

Per Roman, co-founder and managing partner at GP Bullhound, added: "We were astounded by the power and the depth of CoverManager’s software, which made us understand their rapid success in Spain. We are excited to join José Antonio and the CoverManager team as they internationalise the platform and become a global leader.”"

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