Ovation, a supplier of guest satisfaction solutions for chains of dining establishments, has concluded its Series A funding cycle, securing a total of $9 million in investments, as outlined in a news release.
TIA Ventures took the lead in this cycle, with ongoing involvement from existing backers such as Summit Capital, Peak Ventures, OneValley, Tenzing Capital, Rocky Woods Investments, Next Chapter Ventures, and previous individual investors. Among the new contributors are Jim Mizes, Jason Syversen, Tammy K. Billings, Erle Dardick, Christopher Sebes, AMARC Holdings, and Carin Stutz. York IE will maintain its place on the board.
Expressing his excitement for the recent funding round, Zack Oates, CEO of Ovation, stated, “I am thrilled to welcome fresh investors on board the Ovation Nation and am delighted by the continued backing from our previous supporters. This result is a testament to our remarkable team, creating exceptional value, and I am deeply appreciative of our capabilities to achieve even greater things!”
Wills Hapworth, General Partner at TIA Ventures, elucidated the rationale behind the additional investment from his organization. “Consumers put considerable effort into earning their money. Consequently, when they choose to spend it at establishments, their trust in receiving exceptional experiences is implicit,” he remarked. “Disappointment ensues when this expectation is not met, and it becomes particularly frustrating when it appears that the brand is indifferent. Simultaneously, we recognize the arduous task of managing a business that consistently delivers flawless service. Ovation resolves this intricate issue by providing brands with real-time insights into the customer experience, facilitating enhancements, and fostering enduring customer loyalty. Most importantly, it enriches lives. This is why we are excited about the future prospects with Ovation across all domains.”
Ovation’s solution aids restaurant chains like Friendly’s, PDQ, Mo’ Bettahs, MOOYAH, and Big Chicken in collecting customer feedback through swift and straightforward surveys. It capitalizes on AI-driven analytics to optimize operations, manage customer concerns in real-time, and cultivate a positive online reputation.
Upon completing online orders or scanning an in-store QR code, patrons are either texted or directed to the platform to respond to two concise query questions regarding their experience, on a scale of five emojis. Favorable responses prompt them to post Google reviews, make product purchases, or take further actions. Conversely, negative feedback triggers requests for additional elaboration, permitting restaurant operators to utilize AI to swiftly resolve issues.
The injection of fresh capital will support enhancements to the platform, extend market reach, and bolster customer service for Ovation. Leveraging these resources, Ovation will implement features streamlining the feedback process and delivering in-depth analytics for restaurant operators.
Among the recent additions is the Advanced Responses feature, which utilizes AI to acknowledge customer feedback autonomously, without imposing an additional burden on staff. This customizable capability ensures that no customer feedback goes unanswered, generating responses based on ratings, response times, and predefined templates.
Amidst its ongoing expansion, Ovation remains committed to enabling restaurants of all scales to enhance guest satisfaction and operational efficacy. Backed by steadfast support from investors and clients alike, Ovation is poised to transform how restaurants engage with and cater to their customers.
