Marqii Secures $10 Million in New Funding, Bringing Total Raised to $20 Million
Led by Next Coast Ventures and joined by Rich Products Ventures, Marqii’s new funding will accelerate product development for the hospitality industry, with continued innovations in review management and digital guest experiences.
Funding will support Marqii’s continued hospitality-specific product development, hiring and growth across the organization, and expansion of their wide network of partners and integrations.
AUSTIN, Texas, October 30, 2024 (Newswire.com) - Marqii, the one-stop digital operations platform for hospitality businesses, secured $10 million in new funding, doubling the total amount raised. Next Coast Ventures leads the round, joined by Rich Products Ventures. Marqii will use these new funds to continue hospitality-specific product development, hire additional team members, and further expand their wide network of partners and integrations. Existing Marqii investors, including Maccabee Ventures, also joined the round.
Marqii enables hospitality owners and operators to deepen their customer relationships through efficient management of their online reviews, menus, and listings. This funding will allow Marqii to further invest in their products, which increase hospitality operators' revenue without compromising the guest experience.
“Next Coast Ventures is a perfect partner for Marqii and will be instrumental in helping us achieve our next stage of growth,” said Marqii Co-Founder and CEO Avi Goren. “Additionally, the conviction and belief Rich Products demonstrates with this investment is a testament to the value Marqii brings to restaurants. Their strategic partnership will unlock new business and product opportunities as we go deeper into solving pain points for our clients, and do all of this the Marqii way: through transparency, collaboration, and a spirit of hospitality.”
Marqii has shown substantial growth in the last year, proving that guest relationships, review management, and improved SEO are top priorities for hospitality leadership in both operations and marketing. Since October 2023, Marqii has added 4,000 new locations, increasing their number of restaurant partners by 50% to more than 12,000 total operators. They have also continued their upmarket expansion: one-third of Marqii clients are hospitality businesses with 30 or more locations.
In August, Marqii released its AI-powered Suggested Review Response, which generates personalized, on-brand review reply drafts in seconds, drastically reducing the time it takes for teams to react to their guest feedback. In just two months, Marqii users have responded to more than 11,000 reviews using Suggested Review Response, saving more than 180 hours of time.
“Marqii occupies a unique space in the hospitality tech industry, helping restaurants create stronger guest relationships through digital communication and information management,” said Thomas Ball, Co-Founder and Managing Partner at Next Coast Ventures. “We are thrilled to add Marqii to our portfolio of companies entering their next stage of growth.”
“At RPV, we’re focused on shaping the future of food and foodservice through technology and innovation,” said Dinsh Guzdar, Managing Director at Rich Products Ventures. “Marqii is a great example of a unique company that is delivering on that by helping restaurants grow and scale without sacrificing the guest experience. As Rich’s helps foodservice operators stay ahead in today’s rapidly evolving marketplace, we look forward to seeing the impact Marqii will have on the future of the industry.”
Fast-growing brands that have trusted Marqii with their review, listings, and online menu management include P. Terry’s, Authentic Restaurant Brands, &pizza, DIG, Margaritaville, Levain, Cooper’s Hawk, Big Chicken, Birdcall, Insomnia Cookies, and Punchbowl Social.
About Marqii
Founded in 2017 by Avi Goren, Evan Perlmutter and Bryan Rutcofsky, Marqii is the digital operations platform for hospitality businesses. Marqii Review Management gives multi-unit operators one place to track and respond to Yelp, Google, Facebook, OpenTable, GrubHub, Uber Eats, and ezCater reviews so they never miss a chance to engage with their guests. More than 12,000 hospitality businesses of all sizes use Marqii to centralize their guest feedback, save time, rank higher in search results, attract more guests, and learn what matters most to their customers. To learn more about Marqii, visit https://marqii.com.
About Next Coast Ventures
Next Coast Ventures is an Austin-based venture capital firm that partners with bold entrepreneurs seeking to build innovative companies in big markets. With over $500 million in assets under management, Next Coast provides its growing group of portfolio companies with hands-on, company-building resources through its strong industry network and the founders’ own experiences as entrepreneurs and operators. Learn more at www.nextcoastventures.com.
Meet RICH’S
Rich's, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods among others. Working in 100 locations globally, with annual sales exceeding $5.8 billion, Rich's is a global leader with a focus on everything that families make...possible.
Rich's®-Infinite Possibilities. One Family.
Learn more at Richs.com.
Source: Marqii
