Global Reservation Platform Tock Announces $9.5M in Growth Funding

CHICAGO–(BUSINESS WIRE)–Tock,
Inc.
, the most innovative global reservations platform for
restaurants, wineries, and pop-ups, today announced that it has closed
an oversubscribed $9.5 million funding round to accelerate its already
rapid growth in the hospitality industry. The round was led by Valor
Equity Partners, notable for its early investments in Tesla and SpaceX,
and by Origin Ventures which also led Tock’s Series A. Restaurant
industry luminaries reinvesting this round included famed multiple
three-starred Michelin chef Thomas Keller, and Lettuce Entertain You
Enterprises which operates over 120 restaurants across the country.

“We invested in Tock because it is transforming the reservation space
and helping restaurants work smarter through its powerful technology
platform,” said R.J. Melman, President of Lettuce Entertain You
Enterprises. “Tock’s strategic focus on businesses and consumers brings
the dining experience into the 21st century, making it a win-win for
both the restaurant and guest.”

Tock powers reservation, table management, CRM, and marketing
integrations for nearly 1,000 restaurants, ranging from neighborhood
pizzerias to Michelin-starred destinations in 23 countries, as well as
hundreds of wineries, pop-ups, and event-based businesses. In addition
to its rapidly growing network of restaurants, Tock’s exclusive
partnership with Chase Pay® provides customers the ability to book
everyday to exclusive experiences through Chase Pay, using their Chase
credit or debit card, Chase Ultimate Rewards® points or a combination of
the two — instantly and securely, with the click of a button.

“We’ve witnessed Tock’s explosive growth rate, while continuing to
provide the latest technology innovation and the highest level of
customer service,” said Jason Heltzer, partner, Origin Ventures, and a
member of Tock’s board of directors. “Tock is a true industry-disrupter,
a phrase that is rarely uttered in the restaurant technology space. This
investment will further accelerate their growth and expansion into other
hospitality sectors”.

From ordinary reservations to extraordinary experiences, Tock provides
consumers the ability to discover and book wherever they are—on Google,
Instagram, Facebook, Maps, or on the Tock app. Tock’s platform is
technology agnostic and works on any device from anywhere around the
world. Tock has seated millions of guests through standard free
reservations and has booked $369M in prepaid experiences — an industry
first.

“I originally conceived of Tock to solve problems in my own
restaurants,” said Tock CEO Nick Kokonas who is also the founder and
co-owner of The Alinea Group of restaurants. “It is a privilege to now
be working together with restaurants around the world to improve
hospitality and business practices through the constant innovation and
expansion of Tock’s cloud-based features and functionality.”

About Tock

Tock is a complete reservation, guest, and table management system built
to power all types of restaurants, wineries, and events. With a global
network, automated booking tools, and first-class hospitality reports,
Tock is committed to reimagining how reservations-based businesses
connect with their customers. Visit www.exploretock.com/join.

About Origin Ventures

Origin Ventures is a venture capital firm founded in 1999 based in
Chicago and Salt Lake City, primarily focused on Series A equity
investments in software and technology-enabled marketplace companies
capable of exponential growth. Previous investments include Grubhub
(NYSE: GRUB), Teem (acquired by WeWork), and Ahalogy (acquired by
Quotient NASDAQ: QTNT). The four partners are former operators and
engineers with a combined 64+ years of venture investing experience.
Visit www.originventures.com
for more information.

About Valor Equity Partners

Valor Equity Partners is an operational growth investment firm focused
on control and non-control investments in high-growth companies across
various stages of development. For decades, Valor has served its
companies with unique expertise to solve the challenges of growth and
scale. Valor partners with leading companies and entrepreneurs who are
committed to the highest standards of excellence and the courage to
transform their industries. For more information on Valor Equity
Partners, please visit www.valorep.com.

About Lettuce Entertain You Enterprises

Lettuce Entertain You Enterprises, Inc. (LEYE) is an independent,
family-owned restaurant group based in Chicago that owns, manages and
licenses more than 130 establishments in Illinois, Arizona, Minnesota,
Maryland, Nevada, California, Virginia and Washington D.C. We were
founded in June 1971 by Richard Melman and Jerry A. Orzoff with the
opening of R.J. Grunts and today, thanks to the creativity of our
partners, we proudly service guests at more than 60 concepts ranging
from fast casual restaurants like M Burger to fine dining,
Michelin-starred establishment, Everest. Visit www.leye.com.

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