86 Repairs Raises $1.5 Million To Help Restaurant Groups Take Repairs Off Their Plates
CHICAGO, May 14, 2019 /PRNewswire/ -- 86 Repairs (www.86repairs.com), a subscription service that manages repairs and maintenance for restaurant groups, announced that it raised $1.5 million in venture capital funding led by Tamarind Hill, with additional investments from Invest Detroit Ventures, Relish Works, Network Ventures, MATH Venture Partners, M25, and several angel investors from around the country.
Founded in 2018 by Joe Gallagher and Daniel Estrada, 86 Repairs takes repairs off restaurant operators' plates - for good. 86 Repairs plans to use its recent funding to accelerate sales and marketing growth, support its expansion in Detroit and Chicago, and continue building the company's proprietary software platform.
"Our mission is to transform back-of-house operations and elevate the guest experience," said 86 Repairs CEO Daniel Estrada. "Focusing our expansion efforts on Chicago means we can help restaurants in one of the best food cities in the world alleviate the massive pain of managing repairs."
Those in the hospitality industry know: getting things fixed in a busy commercial kitchen is a complex, frustrating, and expensive process. Restaurants spend 3% of annual revenue on repairs and maintenance. With The National Restaurant Association predicting U.S. Restaurant sales to hit a record $863 billion in 2019, that translates to $26 billion a year spent on repairs.
"We're excited about 86 Repairs because of its huge potential to improve 'back-of-house' operations, an area of the industry that has long been overlooked," said Ben Trumbull, Partner at Tamarind Hill, the venture capital group leading the investment. "There's a tremendous opportunity to build insights around data that has never existed, to save operators real dollars and transform the repair experience through conversational AI and predictive analytics."
With 86 Repairs, restaurant operators can get back to doing what they do best - elevating their guest experience.
"86 Repairs is bringing a previously nonexistent solution to the table in terms of back-of-house operations. With their service, we can manage repairs and maintenance in a meaningful way, take advantage of preventative maintenance versus reactive fixes, and make better decisions to save money," says Josh Humphrey, Chief Operating Officer and Partner at Peas and Carrots Hospitality.
86 Repairs was invited to participate in the first cohort of The Food Foundry, an accelerator program by Relish Works. The Food Foundry supports, connects, and propels innovative startups who are reimagining the food service industry.
"We're excited to see 86 Repairs growing and expanding in Chicago," said 1871 CEO Betsy Ziegler. "When we partnered with Relish Works and Gordon Food Service to launch the initial cohort of The Food Foundry accelerator, we wanted to choose companies that could create impact for a premiere food city like Chicago. We looked for new talent and ideas to solve our most pressing food industry problems. I'm pleased that 86 Repairs has stepped into that role by providing a solution for restaurants that combines service, process, and technology."
About 86 Repairs
86 Repairs is a subscription service that manages the entire repair process for restaurant groups. Restaurant operators count on us to handle their repairs so they can focus their time, money, and energy on what they do best - elevating the guest experience. Our service includes 24/7 support from our expert team, actionable insights to improve back-of-house operations, and complete management of the service process. 86 Repairs takes repairs off your plate so you can take control of your kitchen.
About 1871
1871 is a not-for-profit organization that exists to inspire, equip, and support founders to build great businesses. It is the #1 ranked university-affiliated business incubator in the world, and the home of ~500 high-growth technology startups and ~1,500 members supported by an entire ecosystem focused on accelerating their growth and creating jobs in the Chicagoland area. Located in a 140,000 square-foot space in The Merchandise Mart, 1871 has 350 current mentors available to its members, as well as more than 100 partner corporations, universities, education programs, accelerators, venture funds and other organizations that make its extensive matrix of resources possible. Visit www.1871.com for more information.
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SOURCE 86 Repairs
