PS27 Ventures announced today the second round of investment in restaurant tech company Hazlnut. Hazlnut raised $3 million from Atlanta Ventures and PS27 Ventures Rhea Fund in a Series A funding round. This will be the second investment round from PS27 Ventures who now owns a large share of the SaaS company.
“We have been working with the Hazlnut team side by side since our first investment in 2018,” said Jim Stallings, CEO at PS27 Ventures. “This proves the value of the PS27 process and that outside investors are looking at First Coast companies. We are pleased to partner with Atlanta Ventures to help scale Hazlnut to the next level.”
Announced earlier this year, the PS27 Rhea Fund is a $20 million venture capital fund that will invest in 20-30 companies over the next three years. The PS27 Rhea Fund seeks to invest in early-stage solutions in SaaS, HealthTech, FinTech, Sustainability, and E-Commerce companies that can scale rapidly. Rhea Fund also has an interest in founders who are women, veterans, and people of color. Hazlnut will be the third company to be included in the fund.
“We would not be here today without the PS27 Ventures team,” said Dick Sikes, CEO, and Co-Founder of Hazlnut. “With the capital, content, and connections we’ve made by working with PS27, we were able to get where we are today.” Learn more about Hazlnut at Hazlnut.com.
Hazlnut is an all-in-one ordering solution that helps companies develop deeper relationships with their customers through beautifully designed websites and custom branded apps. Hazlnut is on a mission to support local, independent, and regional restaurant brands thrive. They do so by providing a software template for web-based, app, and in-store ordering solutions. Unfortunately, the cost of hiring web and app developers is a greater investment than most restaurant owners can afford. Hazlnut offers development, onboarding, and ongoing support at an affordable monthly rate.
About PS27 Ventures
PS27 Ventures invests in early-stage companies that are driving dramatic changes in high-growth markets. We invest in early-stage startup ideas and businesses, supporting their growth with a broad range of expertise from a team of highly regarded professionals. Bringing selected startups into our accelerator, we work side by side with them to grow their business and help them realize their true potential.
For more information about the Rhea Fund please email us at in**@ps**********.com.