Industry News | January 8, 2009

Investors Give Exit41 $8.8 Million

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Exit41, Inc., a leading provider of online ordering and call center solutions for the restaurant industry, today announced the closing of an $8.8 million Series C1 funding round from Devonshire Investors; Humphrey Enterprises, LLC; and JAO Investments, LLC.

The Exit41 Enterprise 2.0 Suite includes online ordering software, call center software, and call center services that enable restaurants to more effectively and efficiently manage their catering, takeout and delivery business.

By allowing consumers to place orders online, and by centralizing phone orders in a call center, restaurants are able to increase sales, reduce labor costs, streamline operations, and provide an improved customer experience.

“Our customers requested that we support their need for a scalable solution that is tightly integrated with their point of sale system, is easy for the end user to use, and can be rapidly deployed across the enterprise,” said Joseph Gagnon, CEO of Exit41. “From our customers to our current investors, we are seeing collective support to more aggressively bring our solution to market.”

Exit41 will use these funds to continue to add new capabilities to their end-to-end solution and enable key business development opportunities, including: expansion of its Andover, Massachusetts-based specialty call center operation for restaurants to accommodate up to 350 call center agents; acceleration of product development initiatives to enhance the Exit41 Enterprise 2.0 feature-set and enable expansion into new vertical markets; and extension of the company’s market reach with its Point-of-Sale Reseller Partnership Program

"We continue to invest in Exit41 as the firm expands online ordering and call center support services to restaurants," said Mark Ferrari, managing director, Devonshire Investors. "Restaurant operators are buying because they need a solution that makes it easier for them to run their business and grow their revenue in these challenging market conditions."