$4M Round to
Fuel Team and Program Growth, Further Improving Recruiting &
Retention for the Hospitality Industry
SCOTTSDALE, Ariz.,
July 25,
2024 /PRNewswire/ -- In Revenue Capital, the
first operator-immersive capital firm focused on early-growth
investing, today announces its participation in a $4 million Seed funding round for Grazzy. Joined
in the round by Next Coast Ventures, AZ-VC, Tuesday Capital and
Iron Skillet Partners, the investment will go toward expanding the
startup's team and programs. Grazzy's software-as-a-service (SaaS)
solution is disrupting the hospitality industry by enabling digital
tipping, instant tip-out and inclusive banking solutions. Its
executive team includes Russell
Lemmer, founder & chief executive officer; Courtney White, vice president marketing, growth
& operations; and Adam Levy,
vice president, product & engineering.
"We were drawn to Grazzy for a wide variety of reasons,
including the company's impressive market traction and its
exceptional product-market fit," says Justin Gray, co-founder and Managing
Partner of In Revenue Capital. "Most of all, we believe in the
Grazzy team, a cohort of strong, proven operators with an
incredible track record together. Combined with a hyper-value
product, we believe the Grazzy and In Revenue teams are natural
allies joining together to take this platform further, faster."
Grazzy's cloud-based solution empowers hourly employees to make
more money, access it the same day and save and spend in better
ways. By improving financial wellness for front line workers,
Grazzy reduces retention and recruiting costs for hotels, bars,
restaurants and salons. The extensible payments platform enables
digital tipping, instant tip-outs and banking solutions that are
built to scale with hospitality and services businesses of any
size.
"This infusion of capital will be a significant boost for Grazzy
at a moment of massive growth, so we are extremely grateful for In
Revenue Capital's investment, and excited to leverage their
operational expertise as we cross new growth milestones," said
Russell Lemmer, founder and chief
executive officer of Grazzy. "The In Revenue team accelerates go to
market scale and value with winning SaaS businesses like Grazzy. We
can't wait to work with them to take our business to the next level
across all our customer verticals, from hotels, bars and
restaurants valets and car washes."
The hotel digital tipping market represents a significant
business opportunity within the expansive digital payment and
hospitality technology sectors. Valued at $13.6 billion in 2022, this sector is projected
to skyrocket to $49.9 billion by
2027, boasting a remarkable CAGR of 29.8%. The pandemic has notably
accelerated the trend towards digitalization in hospitality,
including tipping, as the demand for touchless transactions and
reduced cash handling has surged. Many hotels are now integrating
digital tipping solutions to enhance their contactless guest
experience offerings, highlighting a lucrative growth avenue in
this rapidly evolving market.
To learn more about In Revenue Capital's philosophy, and to read
the founders' manifesto, visit inrevenue.capital.
About In Revenue Capital
In Revenue Capital was created as a founder-friendly fix to a
broken venture capital (VC) system, in which deals work out well in
aggregate for financiers but more often poorly for portfolio
companies. Coupling capital with rich go-to-market (GTM) expertise
in a true value-add model, the firm offers both funding and
embedded operators to help founders and their companies grow and
succeed. For more information, please visit inrevenue.capital.
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SOURCE In Revenue Capital