86 Repairs Secures $7.3 Million in Additional Funding

Chicago — Chicago-based restaurant tech company 86 Repairs has closed an additional $5.3 million from investors including TDF Ventures, Gordon Food Service (GFS), MATH Venture Partners, Revolution and Cleveland Avenue. The new financing brings the company’s funding in this round to $7.3 million, and total capital raised to $8.8 million to date.

Disrupting the $26 billion restaurant equipment repair and maintenance (R&M) industry, 86 Repairs automates the end-to-end repair and maintenance process for restaurants and provides actionable insights to improve back-of-house operations. The end result is significant time and cost savings for restaurants.

“The operational insights provided by 86 Repairs are critical for restaurants to streamline their processes and save time and money,” says Don Thompson, former CEO of McDonald’s and founder of Cleveland Avenue, a privately-held venture capital firm that accelerates and strategically invests in innovative food, beverage and restaurant concepts and emerging brands. “We are pleased to further support 86 Repairs’ innovation, vision and growth, which is already having positive effects across the industry.”

Restaurants spend up to 3% of annual revenue on repairs and maintenance — the largest controllable budgetary line item. Since its launch in 2018, 86 Repairs has saved its customers an aggregate of $2.2 million and counting through its data-driven approach to on-demand repairs, preventative maintenance and proactive insights.

“86 Repairs has demonstrated solid and sustained growth by offering a first-of-its kind solution for a previously neglected problem,” says Will Rayner, principal, TDF Ventures. “We believe that the 86 model is primed to transform the market. We are doubling down on our investment to help the company seize this opportunity.”

“Operators are looking for ways to leverage technology to bolster their businesses. 86 Repairs is a crucial tool for back-of-house automation and post-pandemic growth,” says Daniel Estrada, co-founder and CEO, 86 Repairs.

In March 2021, 86 Repairs announced $2 million in funding from several investors and previously raised $1.5 million. The company’s solutions are used by growing, multi-unit restaurant groups including: Castellucci Hospitality Group, 4 Rivers Smokehouse, Peas and Carrots Hospitality, and brands like McDonald’s, Jimmy John’s, Sonic Drive-Ins, Famous Dave’s and many others. For more information, visit www.86repairs.com.

 

 

SOURCE: 86 Repairs

 

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