Slang AI Secures $36 Million to Revolutionize Guest Communication in Restaurants

In a groundbreaking move for the hospitality industry, Slang AI, the foremost AI platform designed specifically for restaurants, has successfully raised $36 million in its Series B funding round, bringing its total funding to an impressive $68 million. This investment, led by US Venture Partners (USVP), marks a significant milestone for a company that aims to transform how restaurants communicate with their guests.

Founded in 2019 by Alex Sambvani and Gabe Duncan, Slang AI has set out to address the increasing demand for efficient guest communications through advanced technology. The funding round was also backed by notables such as Thayer Investment Partners, Claire Hughes Johnson, and several existing investors. It consists of $28 million in equity and $8 million in debt.

The Superhost Platform

Slang AI has developed a sophisticated voice AI system known as the 'Superhost.' This technology is fundamentally changing the way restaurants handle guest interactions, providing a consistent, warm, and professional engagement that operates around the clock. Unlike other hospitality AI solutions that merely field basic inquiries, Slang AI's Superhost is capable of managing complex interactions, including booking reservations, intelligently routing high-priority requests, and even recognizing returning guests and VIPs.

The need for effective guest interaction tools has never been greater, with more than 80% of restaurant executives planning to increase their AI budgets in the coming year. With its ability to generate increased revenue through enhanced service and responsiveness, Slang AI has quickly positioned itself as an essential ally for restaurants.

The company reports that their technology has yielded an astonishing up to 20x return on investment (ROI) for operators, alongside a doubling of phone reservations and a remarkable guest satisfaction rate exceeding 95%. This level of performance is particularly valuable in today’s competitive landscape where restaurants are under pressure to maintain operational excellence while keeping costs in check.

Addressing Industry Pain Points

Many restaurants struggle to manage the influx of calls, emails, and other guest inquiries daily, often missing out on invaluable opportunities for engagement. According to Slang AI's own research, as many as 50% of these inbound opportunities may go unanswered, with a significant percentage of calls arriving during non-operational hours. This situation creates challenges for staff, who often face the dilemma of managing current guests versus tending to incoming inquiries.

Slang’s Superhost effectively alleviates these issues by automatically capturing demand and converting it into bookings. It seamlessly integrates with existing systems, managing tasks from reservations to private dining requests, thus allowing staff to focus on providing quality service to current patrons.

As restaurant operators increasingly turn to data-driven strategies, Slang AI boasts a unique competitive advantage with its extensive dataset of over 25 million customer interactions from 10 million unique guests. This dataset empowers Slang AI to continually improve the platform's reliability and responsiveness.

Future Prospects

The new funding will enable Slang AI to further enhance its offerings, including developing multi-modal experiences that reach beyond voice interactions. The company is also eyeing advancements in personalized guest recommendations and post-visit follow-ups to engage customers more effectively.

Alex Sambvani, Co-Founder and CEO of Slang AI, emphasized the significance of personalized interactions in hospitality: “We strive to ensure that every guest feels recognized and valued. Technology should enhance the human touch, not replace it.” This funding provides Slang AI with the resources necessary to fulfill its mission of delivering a personalized service across the hospitality sector.

As Slang AI accelerates its product development and expands its team to meet rising demand, it remains dedicated to leveraging AI to enrich the dining experience, streamline operations, and ultimately drive profitability for its restaurant partners. With a commitment to understanding and anticipating guest needs, Slang AI is poised to redefine the standards of hospitality in the restaurant industry worldwide.