SynergySuite, a back-of-house restaurant technology producer, has raised $7 million from equity and debt, according to a company press release.

The investment comes from new partner LAGO Innovation Fund, as well as existing investors First Analysis and Oyster Capital. LAGO Innovation Fund supports founders and investors of high-growth disruptive companies through bespoke, term-loan credit facilities and equity co-investments, according to the release.

SynergySuite’s restaurant management software focuses on helping restaurants reduce food and labor costs, improve operations and gain visibility throughout their markets.

“This investment enables us to further expand in the North American market, and continue to innovate to serve multi-unit restaurants,” SynergySuite CFO Eric Sailsbery said in the release. “We’re honored LAGO understands our position in this market and saw how our unique technology serves their portfolio.”

The raise allows SynergySuite to strengthen its position in the market during a critical time for the industry, recovering from the COVID-19 pandemic. LAGO Innovation Fund believes the investment could drive an innovative product and position SynergySuite for long-term growth.

“We are thrilled to add SynergySuite to our portfolio,” Heather La Freniere, LAGO co-founder and managing partner, said in the release. “We see SynergySuite changing the enterprise restaurant market with technology that transforms the way operations are run.”

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