# Presto Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/presto-services

- Industry: Internet
- Headquarters: Redwood City, US
- Website: www.presto.com
- Total disclosed funding: $10M
- Latest round: Series A (May 1, 2006)
- Investors on record: 2

## About

Presto Services focuses on A.I.-driven automation solutions for drive-thru restaurants, enhancing operational efficiency and customer engagement through innovative technology.Founded in 2004 in Redwood City, US, Presto Services specializes in automating drive-thru operations for restaurants. The firm raised USD 10.00 mn in its Series A funding round on May 1, 2006, with investments from Clearstone Venture Partners and Kleiner Perkins. Rajat Suri, the founder and current CEO, leads the company as it caters to the quick-service restaurant sector.Presto specializes in A.I.-driven automation solutions designed specifically for drive-thru restaurants, significantly enhancing operational efficiency and customer interactions. Their core product, Presto Voice, serves as a sophisticated drive-thru ordering assistant powered by advanced Voice AI technology. This system automates the order-taking process, allowing restaurants to streamline operations, optimize staff efficiency, and improve order accuracy. The end users primarily consist of quick-service restaurant (QSR) brands seeking to enhance their drive-thru service capabilities. Presto has established a notable client base across various geographical markets, particularly in the United States, where its automation solutions have been widely adopted, contributing to increased revenue for its customers through improved upselling and customer satisfaction.Presto's revenue model is primarily based on B2B partnerships, where the company provides its Voice AI solutions to drive-thru restaurants and QSR brands. The transactions typically involve a subscription structure where clients pay for the activation and ongoing use of the Presto Voice system, which ensures continuous support and updates. The company's products, particularly Presto Voice, are central to the transaction process, facilitating enhanced order accuracy and improving overall customer experiences at drive-thru locations. While specific pricing plans for their services are not disclosed, the revenue generated reflects the value of optimizing operational capabilities and driving incremental sales for partner restaurants through automated upselling features.Following the Series A funding round in May 2006, Presto Services intends to leverage the USD 10.00 mn raised to expand its product offerings and enhance its technology for drive-thru automation. The company aims to introduce new versions of its Presto Voice system to improve functionalities and effectiveness in drive-thru service. Additionally, Presto plans to expand its market presence beyond the United States to include regions such as Canada and Europe by the end of 2023.

## Funding rounds

- Series A, May 1, 2006, $10M — Clearstone Venture Partners, Kleiner Perkins

## Investors

- Clearstone Venture Partners (https://capitalatlas.ai/funds/clearstone-venture-partners) — Series A
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A