Black Box Intelligence, the specialist in data and actionable insights for the restaurant industry, has received a significant growth investment from Diversis Capital Partners, a Los Angeles-based buy-out firm focused on software and technology-enabled organisations.
“This is an exciting day for our employees, clients, partners and the industry at large,” says Kelli Valade, President & CEO of Black Box Intelligence. “Our new partnership with Diversis enables us to accelerate investments in our team and technology that will further our mission of revealing new insights to our clients that unlock their potential while enriching the lives of those that work in or support the restaurant industry.”
Black Box Intelligence has supported the restaurant industry with superior data and insights for more than 25 years. Harnessing a network of nearly 300 restaurant companies, the Black Box Intelligence platform enables clients to connect the dots between restaurant unit financial performance, workforce trends and benchmarks, unit-level guest feedback and consumer intelligence.
“Diversis has had tremendous success investing in technology businesses that support the restaurant industry,” says Kevin Ma, Managing Partner of Diversis Capital. “Black Box Intelligence has everything we’re looking for in a successful platform – a highly unique and unmatched product offering, a management team of recognised industry thought leaders and a strong and loyal customer base. We were particularly impressed by the fact that CEOs of many major restaurant brands not only know Black Box Intelligence but are themselves active users of the product on a daily or weekly basis.”
The transaction with Diversis will supply growth capital and operational expertise to Black Box Intelligence’s platform capabilities, enabling it to penetrate new and existing segments of the broader foodservice industry. Additionally, the founders of Black Box Intelligence, Wallace Blair and Joni Thomas Doolin, will remain involved in the business as investors, strategic advisors and members of the board.
“As proud founders of the Black Box Intelligence brand and team, Joni and I could not be more excited about this partnership with Diversis to accelerate our growth and capacity to serve all of our stakeholders in the restaurant industry,” saisaysd Wallace Blair Doolin, Chairman and Co-founder of Black Box Intelligence.
In a related transaction, Diversis acquired ArrowStream, a cloud-based provider of end-to-end supply chain management software for the foodservice industry and during its four-year ownership of the founder-owned business invested in the company’s technology platform to enhance its functionality and broaden its presence in the foodservice industry prior to its sale in December 2020.
Peak Technology Partners, an independent investment bank that provides strategic and financial advice to high-growth technology companies, served as financial advisor to Black Box Intelligence.
Source: Private Equity Wire
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