McDonald’s drive-thrus are getting more high tech following acquisition
The drive-thrus at everyone’s favorite yellow-arched burger restaurant are set to get a bit more advanced following a recently announced acquisition. In its largest buy of the last 20 years, rumored to fall at a $300 million valuation, McDonald's purchased the New York-based AI-backed personalization platform Dynamic Yield. The company's platform will be used to customize McDonald’s drive-thru menus to factor things like popular items, the weather, restaurant traffic and recommended items, then change the menu for drivers accordingly. The two companies started testing the upgraded menus in 2018 and they’re expecting to roll out the new features domestically this year. [Tech Crunch]
Arrive and Avis team up to make parking easier for vehicle renters
Arrive, recently rebranded from ParkWhiz, announced a partnership with the vehicle rental agency Avis to ease parking worries for travelers. Through Arrive, Avis users across the U.S. can book and prepay for parking spaces, the costs of which are payable through customer’s credit card tied to the rental. “The Arrive app integration removes the stress and hassle of finding parking for both road warriors and leisure travelers,” said Arthur Orduna, Avis Budget Group Chief Innovation Officer, in statement. [Global Newswire]
BMO Harris and 1871 partner up for fintech startup program
1871 and BMO Harris are teaming up again to host the third iteration of their Innovation Program for financial startups. The initiative, running from May to August this year, will host accepted companies at the 1871 offices for free and provide them with resources like mentoring, opportunities to attend workshops, pitch sessions before investors and access to a large professional network. Companies are also eligible to win cash prizes of up to $25,000 at the end of the program. [1871]
Foxtrot will open new Chicago locations beginning this month
Alcohol, tobacco and snack delivery service Foxtrot announced plans to open another set of locations in Chicago, adding to the five already in existence. The first new location is coming to the 400 block of Wells Street in River North, making it the second Foxtrot store in the area. The location will host a full-service coffee bar, cafe, beer on tap and wine by the glass. More brick-and-mortar locations are set to open later this summer and fall. The company also announced its expansion into the Dallas market. [Press release]
Rewards Network fills new VP of Corporate Development role
Rewards Network, a restaurant capital, marketing and loyalty rewards platform, announced the creation of a Vice President of Corporate Development position and chose Ed Lang to fill the role. Land previously served as head of business development at Zipcar and director of corporate and business development at TripAdvisor. “He will be focused on scaling Rewards Network through strategic acquisition and other inorganic partnership opportunities,” said Ed Eger, CEO, in statement. “His experience will add great value for our restaurants.” [PR Web]
Sertifi gets new Chief Revenue Officer
Sertifi, a provider of sales efficiency tools, appointed Joseph Flynn as its new chief revenue officer. Flynn has over three decades worth of hospitality, sales, and marketing experience and has worked in leadership positions at SoftBrands, NewMarket and Amadeus Hospitality. At Sertifi, he will oversee the sales team and work to drive growth of the platform in hospitality and SaaS markets, as well as in new industry verticals. [Hospitality Net]
HowToFund announces 2 new advisory board members
HowToFund, a fund raising platform and one of our 50 Startups to Watch, announced Brett DeSchepper as a newly added member of its advisory board. DeSchepper previously founded iHomefinder in 1997 and led it as CEO until the company was acquired by FRONTSTEPS in 2017. “We are confident that Brett will be able to draw on past experience to help us position ourselves as an attractive strategic partner in the fundraising industry,” said Michael Anderson, HowToFund’s CEO and co-founder, in a statement. [Press release]
Joshua Langenthal is another new addition to HowToFund’s board. Langenthal has extensive experience in community development, wealth management and seed stage investing — he even co-founded a San Francisco-based semi-professional ultimate frisbee team. “Beyond his highly relevant experience working with nonprofits, Josh will also be able to guide us as we build a team and prepare for future investments,” said Brian Letzter, HowToFund’s co-founder and COO, in a statement. [Press release]
