SOURCE: Table8

May 06, 2014 09:05 ET

Table8 Secures $4.6M Investment From Angels and the Concur Perfect Trip Fund

Financing Allows Table8 to Bring Last Minute Restaurant Reservations to More Cities Across the U.S.

SAN FRANCISCO, CA--(Marketwired - May 6, 2014) - Table8, the restaurant platform that offers patrons access to sold-out restaurant reservations, announced today the closing of a $4.6M financing led by Angel investors and the Concur Perfect Trip Fund™. Concur (NASDAQ: CNQR), the leading provider of integrated travel and expense management solutions, established the $150 million Perfect Trip Fund to invest in and nurture emerging companies in the T&E Cloud.

Table8 provides access to diners seeking to enjoy the best of a city's food scene without making reservations weeks in advance. Their service enables travelers and corporate diners, who often find out about business trips at the last minute, the opportunity to enjoy dinners at the finest restaurants regardless of time constraints. Table8 is currently in beta in San Francisco and has plans to expand to other cities including New York, London and Chicago in the near future.

"We launched the Perfect Trip Fund with the objective of helping innovative entrepreneurs deliver game-changing technologies," said John Torrey, Executive Vice President, Corporate Strategy at Concur. "Dining is one of the most important elements of delivering the Perfect Trip and Table8 is delivering a disruptive solution to the restaurant reservation business. We are excited to join them as investors and look forward to helping them realize their vision and improve the lives of diners and travelers everywhere."

"We created Table8 for busy people that don't have the flexibility to plan weeks ahead in order to get a reservation at a city's best restaurants," said Pete Goettner, co-founder and CEO of Table8. "This financing lets us aggressively roll out Table8 across the U.S. and to begin working with Concur to bring our product to their business traveler customers."

About Table8: Table8 is a restaurant reservation platform that reintroduces the element of spontaneity to eating out, by allowing anyone to make reservations at the most popular restaurants that are usually sold out well in advance, in primetime, on the best nights, at the last minute. Founded in 2013, Table8 is the brainchild of Pete Goettner and Santosh Jayaram. Pete was the co-founder and CEO of DigitalThink and a Silicon Valley VC. Santosh was the first business operations hire at Twitter. Frustrated with their restaurant routines and the lack of availability at new and interesting spots, Santosh and Pete built Table8 to open up access to these restaurants to "normal" folks, while at the same time creating a new revenue stream for restaurants that can actually make a difference in their bottom line. Table8 is currently in beta in San Francisco and has plans to rollout in markets around the country in the coming months. For additional information, please visit us at http://www.table8.us.

About Concur: Concur® is a leading provider of integrated travel and expense management solutions. Concur's easy-to-use Web-based and mobile solutions help companies, federal agencies and their employees control costs and save time. Concur's open platform enables the entire travel and expense ecosystem of customers, suppliers, and developers to access and extend Concur's T&E cloud. Concur's systems adapt to individual employee preferences and scale to meet the needs of companies from small to large.

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