GP BULLHOUND FUND VI INVESTS IN COVERMANAGER

Bringing innovation to hospitality.

December 13, 2022

Madrid, 13 December 2022 - GP Bullhound announces a new investment into CoverManager, a leading bookings automation and optimisation software for the hospitality sector, as part of the second closing to their €52M funding round. With this investment, GP Bullhound will support the company in its internationalisation, to further consolidate its position as a market leader in Spain.

Team

Sector

Software

Region

Southern Europe

Founded in Sevilla in 2015, CoverManager has developed an end-to-end software suite for booking management, aggregating all online and offline channels into a single dashboard, automating bookings, and optimising table use. The platform was developed hand in hand with demanding high-end restaurants, and has a vast range of functionalities and customisation options, including features such as rider management, a fully-fledged CRM tool, and the recently launched “payments-at-the-table” selection.

After rapidly becoming the leading platform in Spain, the company has now entered new markets where there is large room for booking digitalisation, in regions such as Italy, Portugal, Greece, and Latin America. CoverManager also recently completed the acquisition of Seatris in Germany, launching their operations in the DACH region. During 2022, CoverManager has doubled its ARR while maintaining highly profitable EBITDA levels, as it currently serves over 8,000 restaurants.

José Antonio Pérez Moral, Co-founder and CEO, commented: “We are thrilled to welcome GP Bullhound to join us in our journey of building the global technology standard for the hospitality industry, helping restaurants and venues improve their profitability and be closer to their customers.”

Per Roman, Co-founder and Managing Partner at GP Bullhound, commented: “We were astounded by the power and the depth of CoverManager’s software, which made us understand their rapid success in Spain. We are excited to join José Antonio and the CoverManager team as they internationalise the platform and become a global leader.”

GP Bullhound invested through Fund VI. Other recent software investments include Connex One, Typeform, HackerOne, Ecovadis, and Causalens, among many others.

Enquiries
For enquiries, please contact:
Carlos de la Esperanza, Principal, at carlos.delaesperanza@gpbullhound.com

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.