CoverManager, the specialist in managing restaurant reservations, orders and queues, got a investment of 35 million euros. Prior to this operation, the firm had already reached a valuation of 140 million euros.
Entrepreneurs Félix Ruiz (, Auro and Playtomic), Paco Ávila (founder of the MEDAC training company), Javier Gutiérrez (CEO of the Group Dani García) and Fernando Martínez (founder of Alia Capital), in exchange for 25% of the shares.
However, they remain at the head of the firm and with most of the shares the co-founders, José Antonio Pérez Moral, general manager, and Carlos Perez Fernandez, chief technology officer Although the transaction has meant the departure of small shareholders.
Jose Antonio Perez that the projectis about people, those of us who join share vision and dedication to Provide our partner restaurants with the technology they need to improve profitability and be closer to their customers. It moves us to position Andalusia and Spain as origin and export technology for the hospitality industry to any corner of the world».
Growth and expansion plans for Europe and Latin America
Currently, CoverManager manages to channel five million diners thanks to the 6,000 restaurants affiliated with its platform and which are distributed in more than 25 countries. Without any prior investment, you have achieved your first €140 million valuationbeing one of the first companies in Spain to allows you to unify all your customer databases within the same SaaS/CRM.
And it is no coincidence that the entry of investors coincides with the ambitious company expansion projectwith which they want to continue gaining ground in Europe, in addition to conquering new Latin American markets, especially targeting Mexico, Chile and Colombia.
Paco Avila He has no doubts about the potential of CoverManager: «we must be very stupid if with this group that has been created we are not capable of accelerating the growth of the company in an impressive way, It is very possible that we have found the next ».
Fernando Martinezanother of the investors, explains that «It has been a long and tedious process due to the difficulty of combining great entrepreneurs and businessmen; José Antonio has been able to put us together and the future is going to be spectacular».
The beginnings of CoverManager
CoverManager is the evolution of the application Restaurant50, launched by Jose Antonio Pérez Moral when he started in the world of hospitality, specifically in the segment of home deliveries. Due to the difficulty to consolidate in the market when competing with giants such as El Tenedor and Restaurantes.com, the Sevillian entrepreneur decided to change course to develop a new product, thus giving rise to his current project.
From that moment on, CoverManager managed to make a name for itself within the hospitality sector, specializing in B2B corporate services, by offering comprehensive solutions in the management of reservations and orders at homeas well as in the resolution of problems due to reservation cancellations without prior notice.
Starting from this point, CoverManager has taken care of add marketing, profitability and customer loyalty solutions, which has allowed it to grow and multiply its size by two every year, financing itself with its own resources. Currently, the company has over a hundred employees and is present in more than 25 countries.
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