This large early-stage investment signals a strong potential for growth in Meitre. The platform, founded by brothers Juan and Luis Caviglia, optimizes restaurant demand by analyzing past data to better understand the future demands through algorithms.
Juan Caviglia clarified that Meitre does not substitute reservation platforms, rather they work with them to optimize the market, similar to platforms in the hospitality industry.
The investment will be used to expand and strengthen Meitre’s team of software engineers to further develop the platform. Currently, Meitre has offices in Argentina, Brazil, and Peru and aims to expand to Mexico, Colombia, Chile, and the United States. The platform is already being used in 10 countries, including the United States (San Francisco and Napa Valley) and has more than 100 restaurants on their platform.
Andreessen Horowitz, who manages a fund of $10B, has expertise in investing in early-stage companies in the technology sector, and started investing in Latin America in 2016 with Rappi. Among a16z partners is Jeff Jordan, ex CEO of OpenTable for eight years, who will be able to provide strategic mentorship to the Meitre team.
Read more at LAVCA.