Restaurant technology company Chubbs has secured $81 million in fresh funding.
The round was led by Prysm Capital and Left Lane Capital, with additional support from Dutch, Fika, and Avid Bank.
Founded in 2016, Chubbs Restaurants provides Point of Sale (POS) systems, integrated marketing and AI-powered tools.
The capital injection comes as the company positions itself to move from its existing integrated POS and restaurant management system to a broader set of operational services.
These include accounting tools, insurance-related services, marketing support and supply ordering capabilities for restaurant operators.
Funding will be directed towards expanding AI-based products for marketing, automated account-keeping, and supply chain optimization.
Chowbus also aims to transition from a pure software-as-a-service (SaaS) model to a more comprehensive service offering designed to reduce administrative and operational burdens for restaurant owners.
It will also use the funds to enter the Canadian market.
“Our journey has always been about innovation with technology, equity, and purpose,” said Chubbs CEO Linkin Wynn.
“The success of our first AI product, AI Digital Ads, has proven that we can help independent restaurants compete at a higher level.
“We are now building a next-generation AI restaurant platform to support the entrepreneurs who are the backbone of our community. This is the most exciting time for the restaurant industry since the move to cloud-based POS.”
Chubbs said it generates more than $120 million in annual recurring revenue, a ninefold increase in four years, and handles $4 billion in annual transaction volume.
Commenting on the investment, Prysm Capital partner Kerry Wei said: “Linxin and the Chubbs team have demonstrated exceptional execution, transforming the business into a mission-critical platform for restaurants.
“With strong recurring revenue, expanding transaction volume, and a strategic move into AI-powered services, Chubbs is at a clear inflection point.
“We are proud to partner with the Chubbs team as they develop a next-generation AI platform that enables operators to compete and thrive in an increasingly complex market.”
“Chubbs Raises $81 Million to Expand AI-Driven Services for Restaurants” was originally developed and published by Verdic Food Service, a brand owned by Global Data.
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