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Tab
Klondike | David Riley
January 16, 2024
Tuesday, January 16, 2024
The startup - Tab Commerce
The founders - Ty Wilson & Sam Unterman
The nugget - Tab is hiring. See the open roles below.
The startup
Tab helps restaurants manage costs and grow profit margins.
Industry: Foodservice
Headquarters: Toronto, Ontario & Austin, Texas
Year founded: 2021
Employees: 8
Funding: Seed
Business Model: Subscription + payments and other GMV-tied revenue
Early Traction: $4M annual costs managed through tab (January 2023) to over $120M annual costs managed through Tab at the start of 2024. Customers include The Ascari Group, Abrielle Toronto, and Wendy’s.
Competitors:
Buyer's Edge Platform backed by Bregal Sagemount
ArrowStream acquired by Diversis Capital
Microsoft Excel is the industry standard
The founders
Sam Unterman (Founder, CTO). LinkedIn.
The problem they see: Unstructured and manual invoicing. Restaurant groups spend between $10,000 and $250,000 daily across dozens of suppliers. Each supplier has many products. This means tons of paper and PDF invoices to keep track of.
How they solve it: Tab unifies cost data. This makes it easier for restaurant staff to analyze and make decisions on the data in real time. Tab does this for restaurant groups of all sizes, from 5-unit groups to 250-unit national chains. They unlock 25% more profit per location and get rid of 85% of manual day-to-day work for the teams that use them.
The nugget - how you can help
If you’re interested in startup jobs…
Tab is hiring a Full Stack Engineer and a Strategy & Operations Lead.
Reach out to the Tab team for more info.
If you’re an investor…
Tab plans on starting to fundraise in the next 6 months.
Reach out to Ty to learn more.
If you’re interested in helping Tab find restaurants to work with…
Forward this email to your contacts who work at North America-based restaurant groups with 5-250 locations.
You can see a list of restaurant groups here.
More Klondike resources
Click here to request access to Klondike’s Fundraise Database
Click here to request access to Klondike’s Job Board Database
Happy panning,
David Riley
Chief Batea
Know a founder keen to be in Klondike? Introduce us at [email protected]