ClearCOGS Secures $3.8 Million Seed Funding
Chicago-based restaurant technology startup ClearCOGS has announced a successful close of a $3.8 million seed funding round. Founded in 2021 by Matt Wampler and Osa Osarenkhoe, ClearCOGS aims to help restaurant operators make faster, smarter decisions on labor scheduling and inventory management through an AI-powered forecasting engine.
The funding, led by Closed Loop Partners’ Venture Group, will support ClearCOGS’s mission to provide data-driven insights in an industry often characterized by uncertainty and slim profit margins. The investment will also allow the company to deepen its platform capabilities and expand its customer base.
The Role of AI in Restaurant Operations
ClearCOGS is positioning itself within a growing number of technology companies utilizing artificial intelligence to streamline foodservice operations. The forecasting engine integrates seamlessly with existing restaurant technologies—like point-of-sale systems and kitchen display systems—applying AI to provide highly accurate forecasts.
“Restaurant operators often rely on gut instinct and spreadsheets to make major decisions about food prep and staffing,” said Wampler. “Our funding empowers us to deliver reliable forecasting tools that help operators reduce waste, avoid overstaffing, and run more efficient businesses.”
Precision Forecasting for Enhanced Operations
The ClearCOGS platform leverages over 100 million data points to generate actionable insights for restaurant teams, providing detailed forecasts that allow for precise food preparation and labor management. For instance, operators might receive data indicating expected sales fluctuations due to weather or local events, facilitating better inventory management.
Current clients such as Jimmy John’s and Cali BBQ have benefitted from ClearCOGS, reporting notable reductions in food waste and improved labor allocation.
Addressing Industry Challenges
As the restaurant sector grapples with unpredictable challenges exacerbated by the COVID-19 pandemic—including staffing shortages and supply chain disruptions—the need for operational precision has become paramount. ClearCOGS aims to assist restaurants in transitioning from reactive to proactive management through AI-driven insights.
Danielle Joseph, Managing Director at Closed Loop Partners, articulated the implications of ClearCOGS’s innovation, stating, “By providing clarity and precision to restaurant operators, they’re not only helping reduce food waste, but also contributing to a more efficient and resilient foodservice ecosystem.”
Future Directions for ClearCOGS
With the recent funding, ClearCOGS is poised to enhance product development and explore new market opportunities, thereby setting its sights on becoming a standard decision-support layer for restaurant operations. Wampler emphasized, “We’re helping operators make confident, data-driven decisions in real time, so they can focus on what they do best: running great restaurants.”
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