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The Courthouse-based hospitality commerce startup GoTab raised $18 million earlier this month.
Truist Ventures led the Series A funding round, per a press release. This milestone marks the startup’s first fundraising round after nabbing smaller seed investments a few years ago.
Founded by Tim McLaughlin in 2016, GoTab makes it possible for guests at restaurants, hotels, resorts and stadiums to order and pay from kiosks or phones — without needing to download an app — while streamlining order fulfillment.
“We have been incredibly intentional with the solutions we develop for our customers, and this latest capital injection will help us further enhance our existing solutions, while also helping us continue to scale the business across sectors and geographies,” McLaughlin said in a statement.
That includes going outside the U.S. and breaking into other industries. Last year, the startup announced its plans to expand into Canada and equip hotels with its solutions.
Already, GoTab says, hotels and resorts that use its platform see an average increase in sales of 28% and a 14% decrease in costs.
It attributes greater profits and deeper savings to its platform, which makes it easier to split checks, place multiple orders and communicate with the back of house. Participating vendors can combine GoTab with other services, such as the reservation platform OpenTable.
Meanwhile, the company is focused on making its platform easy to use for people who are colorblind or have other impairments, per a recent interview McLaughlin gave to Forbes.
This commitment to improving the experiences of customers and staff is one reason Truist Ventures said it led the startup’s fundraising round.
“Truist Ventures seeks out companies that drive innovation, deliver impactful solutions, and support their communities; this investment in GoTab is a testament to these values,” Truist said in a statement.