202222 Sep

Presto, a Leading Provider of Restaurant Labor Productivity Technologies, to be Publicly Listed

Summary

Upon closing, the Company will be renamed Presto Technologies, Inc. and expects to list its common stock on Nasdaq.As restaurants reopen and guests are anxious to return, an acute labor shortage is preventing the industry from bouncing back. Prestos strategic relationships with important industry leaders such as Fiserv, Oracle, PayPal, and Visa provide valuable access to global markets and have helped the company scale rapidly. The initiative received significant national media coverage and delivered 20,000 tablets to 2,000 healthcare facilities.Accelerated adoption of the Presto platform in the recent past underscores the urgent need for staff-enhancing and productivity-increasing solutions across the hospitality industry. We are excited to invite public market investors to join us on this journey, and support us in our efforts to solve deep-rooted problems for our customers like the shortage of labor, slow guest experiences and lack of data to enable sophisticated decision-making. We believe this deal will accelerate Prestos growth as the marquee provider of technology solutions that empower the restaurant and hospitality industries during this unique moment in time.Pursuant to the business combination, Ventoux will acquire the Company through a reverse merger.

Source: Presto

Funding

$70M
Amount
Sep 22 2022
Date
-
Investor
Presto
Company

Classifications

Companies