Serving up food intelligence has worked out well for Yumpingo, which has now received over £1m of investment from high-profile investors including leaders from Formula One and Crystal Palace FC
Consumers are eating out more frequently and for an increasing number of reasons, rather than just for special occasions, which has led to significant growth of the restaurant sector over the past couple of years, according to PwC, the professional services firm.
It’s clear then that, Yumpingo, the restaurant data startup, is operating in a vibrant and lucrative market. The company delivers a food intelligence service enabling clients to glean feedback from customers at the end of their meals in the form of a one-minute review completed on a Yumpingo device.
That combination of industry health and an original business proposition is likely what’s allowed the startup to devour an investment topping £1m from a handful of investors. And among the high-profile backers are Ross Brawn, the Formula One managing director of Motorsports; Steve Parish, the chairman of Crystal Palace FC; Keith Taylor, CFO of Equinix, the data centre operator; and Tara Donavon, former CEO of Jamie Oliver Media Group.
One of the interesting things about Yumpingo is that, in keeping with the market’s growth, it covers all bases with its proposition by serving clients including chains such as Bill’s and Ask Italian as well as independents Mac & Wild and Whyte & Brown. Using its platform, restaurant operators are able to learn where they went right and wrong to then adapt accordingly.
The funding comes as Yumpingo is currently in the process of launching in further sites for Wagamama, Wahaca and Jamie’s Italian. Formula One’s Brawn said winning in F1 has only been achievable through data analysis and he called the Yumpingo model a “game changer” for the restaurant industry.
Commenting on the investment, Gary Goodman, founder and CEO of Yumpingo, said: “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.”
Having a bad dining experience is always going to leave a bitter taste in the mouths of consumers, so if a business is actively trying to improve the pleasure of eating out and the creativity of the restaurant market on the whole, we’re all for it – especially if our request for “bigger portions” qualifies as valuable feedback.