ESB, Indonesia’s largest fully-integrated restaurant management SaaS platform, announced that it raised $29 million in Series B funding round co-led by Northstar Group and Alpha JWC Ventures, with participation from existing investors AC Ventures, BEENEXT, and Vulcan Capital.
ESB is an all-in-one provider of culinary business operations software. It offers a cloud-based SaaS solution that includes a front-end order-taking app, a point-of-sales system, kitchen operations software, and a back-end enterprise resource planning system.
Through ESB, F&B merchants also gain access to an ecosystem of third-party providers for ingredient supplies, food delivery, and digital payments.
Co-founded in 2018 by Gunawan Woen, Eka Prasetya, Setiadi Prawiryo Moeljadi, and Dwi Prawira, ESB’s mission is to help F&B businesses enhance their profitability by using tech to augment sales and improve operational efficiency.
With the fresh funding, ESB said it will further expand its footprint in the SME market. Its value proposition to SMEs includes many things. It offers simplified payment solutions, working capital facilities, and expanded productivity features that will help SMEs increase their sales.
It also provides order and delivery channel management solutions, accounting capabilities, supply chain management, and a human resources information system.
“We see F&B merchants, whether they’re big companies or SMEs, as our equal partners. As a partner, we are committed to supporting our merchants, to helping them generate more sales and increase their efficiencies. In the end, this will help them increase their profit. By achieving that, we can ensure their sustainability, bankability, and growth. When our partners grow, ESB grows, that’s how I see it,” said Gunawan Woen, the company’s co-founder and CEO.
“I am also proud to welcome Northstar Group as the new shareholder in this round and appreciate the continuous support from our existing shareholders AC Ventures, Alpha JWC Ventures, BEENEXT, and Vulcan Capital for their continued confidence in us.”