The current landscape of innovation within the hospitality industry has predominantly revolved around the digitalisation of operational workflows. However, these digital tools often exist in isolation, lacking cohesion and dynamism. They primarily address specific operational aspects such as inventory management and HR/payroll, leaving other crucial areas underserved.
In contrast, Nory, a London-based company, has introduced an intelligent operating system for hospitality businesses. Powered by artificial intelligence (AI), this innovative solution integrates and harmonises the previously fragmented business functions. By doing so, it offers a comprehensive end-to-end solution for hospitality enterprises.
€7M seed funding announcement
The news is also in that Nory has recently secured €7 million in a seed funding round, with notable participation from Triple Point Ventures, a UK-based venture capital firm known for its investments in technology-driven companies across diverse sectors such as fintech, digital media, and healthcare. Co-leading the round is Samaipata VC, a Spain-based venture capital firm specializing in early-stage investments in European technology startups. Samaipata VC focuses on sectors including e-commerce, marketplaces, and software-as-a-service (SaaS).
Participating investors also include Playfair Capital (which recently closed a $70M fund and backed m3ter, Spotted Zebra, and Sourcerie), Cavalry VC and Circlerock Capital. The latest investment will be used to extend the capabilities of Nory’s proprietary technology and accelerate its go-to-market strategy.
Conor Sheridan, Founder and CEO of Nory said: “We believe leveraging technology like Nory will make a huge difference to operators by helping them further professionalise their businesses, increase productivity and ultimately boost profits. Nory offers the recipe for success, providing hospitality managers with all the ingredients to run an efficient and profitable venue. We’re on a mission to empower businesses all over the world to thrive, and this funding will enable us to continue helping the hospitality industry reach its full potential.”
Jamie Tomalin, Investor at Triple Point Ventures stated: “We are excited to be backing Nory as they continue their rapid expansion across Europe. Conor’s operating background and relentless drive makes him uniquely positioned to build a data driven OS for hospitality venues. Nory’s intelligent operational insights provide a differentiated proposition in the market, with the substantial operating efficiencies customers report testament to this ”
José del Barrio, Founding and Managing Partner at Samaipata VC commented: “We’re thrilled to back Conor on his mission to equip restaurants and hospitality with the most intelligent tools to manage their operations more efficiently. It’s an important and very opportune time for such software as the industry with already thin margins faces even more pressure from the economy and workforce to survive by performing better. We believe Conor with his unique experience as a hands-on restaurateur and data-driven founder will be Nory’s secret ingredient to becoming a global category leader.”
The future of restaurant management
In 2020, Nory was established in London by Conor Sheridan, an entrepreneur with a track record of founding and scaling Mad Egg, Ireland’s fastest-growing independent restaurant group. Nory’s core focus revolves around developing an AI-powered operating system tailored specifically for hospitality businesses. The company’s primary objective is to streamline and centralize essential operational functions crucial for running successful hospitality venues.
Powered by intelligent algorithms, Nory’s operating system analyzes data from diverse business areas, including daily revenue, employee scheduling, and supply chain requirements. By harnessing this valuable data, Nory’s system provides actionable insights and suggests operational efficiencies to on-the-ground teams, empowering them to run venues more efficiently and reduce costs.
Nory has successfully partnered with several prominent brands in the European and UK hospitality sector. Notable clients include Stonegate Pubs, Viva Italia Group, and Dr. Juice. By collaborating with industry leaders, Nory demonstrates its ability to deliver tangible value and innovation to its clients within the hospitality space.