The restaurant industry is perhaps one of the most diverse business sectors in the world. With businesses occurring in all different shapes and sizes, the common theme is the modern restaurant becoming highly digitalized.
Olo, one of the leading companies behind the digitalization of the restaurant industry, has announced it is acquiring Wisely, a customer engagement platform helping brands deliver personalized experiences.
“As we look to the future of digital entirety for restaurants, tools that help brands harness customer data and turn it into applicable insights will be essential for them to better serve guests and manage the restaurant enterprise as a whole,” said Noah Glass, Founder and CEO of Olo.
“Since partnering with Wisely, we have seen clear synergies between the two platforms and a close cultural alignment of putting restaurants first. We both succeed when our restaurant brands succeed, and there are clear areas of opportunity to provide intelligent products to better serve them. Wisely’s customer engagement platform, operations intelligence, and data capabilities complement Olo’s on-demand commerce platform and will together create a differentiated and wide breadth of product offerings that will accelerate our restaurant brands’ digital transformation.”
The acquisition of Wisely, reportedly worth around $187 million, represents an investment for Olo into its business solutions and capabilities. The move empowers customer data insights and metrics that lead customer-facing teams to make better decisions on their strategies.
Wisely’s leading customer intelligence solution is one of the top tools for hundreds of restaurant brands like Fat Brands, P.F. Chang’s, and Chuy’s who are looking to use their data to personalize their customer experiences. Its software features a comprehensive CRM with tools like marketing automation, reservations, table and order management, and guest services.
The solution joins Olo’s on-demand digital commerce solution which hosts millions of online orders per day for over 70,000 restaurant locations including top brands like Shake Shack, Denny’s, Sweetgreen, The Cheesecake Factory, and Wing Stop. Some of the key upgrades that Olo will be gaining from Wisely as a result of the acquisition include:
- Streamlined deep customer relationships with Wisely’s suite of digital transformation tools.
- Unified guest profiles for users promote faster and more personalized customer experiences.
- Brand marketing upgrades as a result of new platform capabilities.
“With our platform, restaurant brands are better able to personalize the guest experience — in the dining room, online, and through digital means — to ultimately improve customer lifetime value. By joining with Olo, restaurant brands will have the ability to unify their transactions and their customers into a single, easy to use system,” said Mike Vichich CEO and Cofounder of Wisely.
The acquisition is expected to close in Q4 2021.