Software startup PeachWorks has landed a few million dollars seed capital and is opening its first headquarters in Southfield this spring.
The 8-year-old company, formerly known as WhenToManage, provides cloud-based software for the restaurant management industry. Its $4 million Series A was led by Indiana-based Allos Ventures
. Other early stage venture capital firms participating in the round are Ann Arbor-based Huron River Ventures
, Florida-based Arsenal Venture Partners
, and downtown Detroit-based Invest Detroit
"We're rolling out a new general product and platform," says Mark Symonds, CEO of PeachWorks
. "We're also building out staff and marketing."
PeachWorks principal product is a subscription-based software platform for restaurants. The platform handles recipe and inventory management, point-of-sale analytics, and staff scheduling. It can be used by restaurants, hospitality businesses, speciality retailers, and food service markets.
"Our sweet spot is fast casual, casual, and fine dinning," Symonds says.
Symonds recently joined PeachWorks as CEO after serving as the CEO of Plex Systems, a software firm that specializes in cloud ERP for manufacturers. He says PeachWorks had been more virtually based before this year with staff spread across the U.S. Metro Detroit contained the highest concentration of those staff. The company currently employs 35 people after hiring eight over the last year. It is currently looking to add another six people.
"Southfield is centrally located," Symonds says. "We also have an office in downtown Ann Arbor."
Source: Mark Symonds, CEO of PeachWorks
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.