“The company plans to use the investment to further develop its AI and machine learning engine and expand its international presence.”
UK-based hospitality technology company Embargo has raised $3.5 million in a recent funding round. The company provides a CRM, loyalty, and ordering platform for small to medium-sized hospitality businesses, including coffee shops, restaurants, and bakeries.
The investment round included participation from UK, US, and European investors such as Paul Statham, Christo Georgiev, Hampton Finance, Stephen Zinser, Carl Christian Reiner, as well as Oh Polly and its founder Mike Branney.
Embargo was founded by Frederick Szydlowski and Tsewang Wangkang to help businesses improve customer retention and increase digital sales through various channels, including in-store, click & collect, and delivery. Currently, nearly 3,000 venues use the platform, with a significant presence in the UK, Poland, and Western Europe. The company reports having processed over 13 million transactions.
The new capital will be used to further develop Embargo’s proprietary AI and machine learning engine, which is central to its personalised marketing and retention strategies. The company also intends to increase its B2B sales and marketing efforts, with an initial focus on its existing markets.
Embargo’s revenue has nearly tripled since mid-2023, a growth achieved without an increase in team size. The company aims to double its growth year-over-year while maintaining a sustainable business model. The company also has plans to expand its international presence within the next 24 months, addressing the demand for accessible and effective technology for independent operators and smaller chains in the hospitality sector.
CRM/CDP Topics Covered in this Article: New Entrants, Data Unification, First Party Data, Real-Time Data Ingestion, Analytics, Audience Segmentation, Customer Insights, Predictive, Omnichannel Engagement, Hyper Personalization, Verticalization, E-Commerce and Retail, Small and Medium Businesses (SMBs).
Companies and Products Mentioned in this Article: Embargo, Hampton Finance, Oh Polly.