Food intelligence platform Yumpingo raises £1m in Seed round led by F1 boss
London-based data-gathering platform Yumpingo has raised £1m in a Seed round led by Formula One boss Ross Brawn.
The company brings big data analytics to the hospitality industry, gathering reviews and feedback from customers.
This funding, which also came from investors Steve Parish, chairman of Crystal Palace FC; Keith Taylor, CFO of Equinix; and Tara Donavon, former CEO of Jamie Oliver Media Group; brings the total that Yumpingo has raised to £1.3m.
Yumpingo was founded by Gary Goodman in 2016. He explained the purpose of the company: “At a time when the restaurant industry is under significant pressure, we see an opportunity for Yumpingo to help brands derisk decision making and deliver better food and service that will keep customers coming back for more.”
Yumpingo allows diners to complete a one-minute review at the end of their meal, either using a Yumpingo device, which replaces a bill presenter, or their own. The company says that up to 66% of tables take part without an incentive and 20% of guests leave an email.
This data, coupled with machine learning, provides restaurateurs with insights into what customers think of their service and food.
Ross Brawn, Formula One managing director of Motorsports spoke about the importance of gathering intelligence: “Data has been an enabler in every part of my career. Winning in Formula 1 required us to understand and analyse data and information to optimise our performance in every aspect.
“Yumpingo is applying this understanding of data and insights to the restaurant industry and that’s why I see it as a game changer, ” he added.
The company claims that, on average, they collect 2,190 dish reviews, 3,460 service reviews, 254 guest emails and 339 guest comments per restaurant, each month.