Objective Logistics gets $1.5M in venture funding
Objective Logistics gets $1.5M in venture funding
Objective Logistics (Cambridge, MA, USA) has secured $1.5 million in new venture capital from a group of firms led by Google Ventures and Atlas Venture.
Objective Logistics were founded in January of 2009 with the intent of bringing together experienced retailers, restaurateurs, software engineers, game theorists, behavioral & data scientists and leading academics in order “to fix what’s broken amongst your workforce.”
Objective Logistics is a software company focusing on improving labor productivity in the restaurant business
The company is a retail/restaurant-focused software company that provides an artificially-intelligent, web-accessible labor management platform (MUSE) scientifically proven to increase sales and save managers countless hours of precious time. MUSE introduces a competitive environment that compels staff to self-motivate and actively upsell while achieving high customer service ratings. Through the use of game dynamics, performance-based scheduling, built-in rewards programs, labor optimization and data analytics MUSE allows managers and operators to focus on what drives their business, not what drives them crazy.
The company did not provide a breakdown of the $1.5 million because, Beauregard said, venture capitalists don’t like to make such details public. But the package is topped by Atlas and Google, with NextView Ventures, Canary Ventures and some other individual investors participating.
The money, Philip H. Beauregard ( CEO and co-founder) said, will pay for fine-tuning and marketing the software, called MUSE. It is designed to do a unique job of analyzing the performance of individual servers in restaurants (and other retail businesses in the future). This gives managers the tools they need to create such things as staff “leaderboards” and use other incentives to improve profits and tips.
“Restaurant owners and employees alike want to gain insight into their operations and performance,” Beauregard said. “The tools available have been cumbersome and mundane. MUSE gamifies the workplace by giving owners the ability to rapidly measure staff performance.”
Beauregard said the software is about 75 percent of its goal, and he would like to see it at 95 percent before marketing it. The product is being used at the Not Your Average Joe’s restaurant chain in Massachusetts and Virginia.
Philip H. Beauregard – CEO and co-founder
“The investments demonstrate that an entrepreneurial company doesn’t have to be based in a tech-rich city such as Cambridge but can be practically anywhere — including downtown New Bedford, where it originated and maintains an office. I want to inspire students. I want young people who are sitting around saying there is no way to achieve this, I want them to know it is possible.”
Sources: South Coast Today and Objective Logistics
