“Experience is the teacher of all things.”
The proverb attributed to ancient Roman ruler Julius Caesar fits well in the case of entrepreneurs Sean Trevaskis and Enver Sorkun.
They cofounded Dubai-based Growdash – a tech start-up that empowers restaurants with actionable insights to drive growth and profitability.
The 31-year-olds first met during their time working together at food delivery company Talabat.
They identified a gap in the industry for a purpose-built analytics platform that restaurants can use to identify shopping patterns, preferences and habits of their customers to offer customised offerings. Their shared passion for using data and analytics to drive growth in the GCC restaurant industry led to the inception of Growdash.
Founded in July 2022, the Dubai-based start-up offers a purpose-built analytics and business intelligence solution that helps restaurants to build, execute and optimise both paid and organic growth campaigns, across online sales channels, while focusing on maximising their profitability.
“The idea stemmed from our experience working in the food delivery industry, with Talabat and Deliveroo, and witnessing the challenges that restaurants faced in effectively leveraging data to drive growth,” says Mr Trevaskis, a British national.
“The turning point came when we realised the immense potential of analytics in transforming the way restaurants operate and make data-driven decisions. Through Growdash, we share a passion for empowering restaurants with advanced tools to maximise their sales and profitability,” says Mr Trevaskis, co-founder and chief executive of the company.
Growdash integrates with restaurants' online sales channels, such as Talabat and Deliveroo, and with order management and point-of-sales solutions, including Urban Piper and Foodisc, to collect real-time data on sales, customer behaviour and market trends.
It takes this data, and through an in-house algorithm, applies advanced analytics to key metrics including return on advertising spend, menu conversion, average order value and cost per order.
Through intuitive dashboards and reports, it provides insights and recommendations to restaurant owners and operators, enabling them to identify growth opportunities, optimise their marketing campaigns and streamline operations for maximum efficiency.
“We have purposely built a value-add ecosystem for every stakeholder and made this conveniently accessible through our SaaS [software-as-a-service] platform,” Mr Sorkun, co-founder and chief product officer at Growdash, says.
“We help restaurant brands to acquire new customers and grow their revenue without taking huge investment risks with growth budgets,” says Mr Sorkun, a Turkish national.
The global restaurant management software market is expected to reach $14.70 billion by 2030, expanding at an annual growth rate of 16.3 per cent from 2023 to 2030, according to Grand View Research.
Factors bolstering the growth include rising internet and smartphone penetration rate, rising preference for point-of-sale technology and restaurants’ strong emphasis on making data-driven decisions.
Growdash, which was bootstrapped in the beginning, recently closed a $750,000 pre-seed round of funding led by Flat6Labs, a Cairo-based venture capital company.
The round also included participation from Plus VC, Judah VC, TPN Investments and angel investors, including former Talabat chief executive Abdulhamid Alomar, and entrepreneur Zeid Husban.
The company aims to invest the fresh capital in product development, enhancing the platform's capabilities, and expanding its team to support customer growth and market expansion.
Its investment priorities include enhancing “analytics algorithms, incorporating new features based on customer feedback and ensuring a seamless user experience” says Mr Trevaskis.
“We are addressing multiple pain points of the restaurant industry such as the lack of effective data utilisation, the ability to access data through a singular purpose-built platform for restaurants and ultimately providing data-driven growth insights, strategies and decisions.
“We aim to equip restaurants with the tools they need to make informed decisions, optimise sales channels and maximise their bottom-line profitability.”
Growdash says it is currently exploring opportunities to raise fresh capital to support its expansion plans and accelerate product development efforts.
“While I cannot disclose specific details at this stage, we are in discussions with potential investors and aiming to secure additional funding by early next year,” says Mr Trevaskis.
Since its inception, the start-up has served more than 150 restaurant brands in the UAE and Kuwait, but it has also had its own share of ups and downs.
It faced bottlenecks with overcoming technical challenges, securing partnerships with online sales channels and gaining the trust of restaurants.
“Our team's resilience and commitment to solving problems have been instrumental in overcoming challenges and driving our growth.
“We overcame these hurdles through relentless determination, continuous iteration of our platform based on constant feedback from our end users, and building strong relationships with industry partners,” says Mr Trevaskis.
The company’s platform has enabled some popular brands such as Nandos, Wagamama, Kreative Restaurants, Papa Murphy’s, Malak Al Tawouk and others to increase the returns on their online advertising efforts by more than 800 per cent, while positively impacting bottom line profitability, the founders say.
However, there is no plan to exit the business.
“Our primary focus is on growing and scaling Growdash to its fullest potential. While we remain open to opportunities and partnerships that align with our long-term vision, our immediate goal is to build a sustainable and successful company that continues to make a positive impact in the restaurant industry,” says Mr Trevaskis.
Growdash, which is not yet profitable, is in no hurry to become profitable as it is focused on growth and establishing a strong foundation.
“Currently, our focus is on rapid growth and establishing a strong market presence,” says Mr Trevaskis.
“Although achieving profitability is an important goal for us, and we have a clear road map to reach that milestone, for the time being, we remain pioneers in this space and feel it is important to benefit [from] our first-mover advantage … our investors feel the same and continue to support us with our ambitious expansion plans.”
The Covid-19 pandemic, which upended many businesses globally, has fuelled the restaurant technology sector's growth.
Restaurants are increasingly relying on online sales channels to reach customers, and the demand for data-driven insights has amplified over the past months.
Growdash grew by more than 500 per cent in the past 12 months, the founders say.
“Restaurants now prioritise operational efficiency, contactless ordering and effective marketing strategies. We have adapted to these changes by providing tailored solutions that align with the evolving needs of our clients,” says Mr Trevaskis.
The start-up is now aiming to expand its operations to Saudi Arabia, the Arab world’s biggest market, and Qatar. This will be followed by inroads into the wider region in early 2024. However, the company did not disclose the exact timeline.
“Our expansion strategy is focused on markets where online food delivery and ordering are thriving, where restaurants are seeking advanced analytics solutions to drive growth,” says Mr Trevaskis.
Q&A: Sean Trevaskis, co-founder and chief executive of Growdash
Where do you see yourself 10 years down the line?
In 10 years, we envision Growdash as the leading global provider of restaurant analytics and business intelligence solutions. We aim to have a significant presence in key markets worldwide, serving a diverse range of restaurants and helping them thrive in the ever-evolving food industry.
Are you a risk-taker or a cautious entrepreneur?
As entrepreneurs, we believe in taking calculated risks. Starting a business inherently involves risk, but it is essential to thoroughly assess and mitigate those risks to ensure long-term success.
If you could change one thing in your entrepreneurial journey, what would it be?
We agree that if we were to change one thing in our entrepreneurial journey, it would be building a strong network of industry connections earlier on. Networking and building relationships with mentors, investors and other entrepreneurs can provide invaluable support, guidance, and opportunities for growth.
Are you on a hiring spree?
Yes, as we continue to expand and scale our operations, we are actively hiring talented individuals to join our team. We currently have an amazing team of 12 passionate individuals driving the Growdash mission forward. In the coming years, we anticipate hiring additional team members, across various geographies and departments, including sales, customer success, product development and data analytics.
What is your vision for the company?
Our vision for Growdash is to become the go-to platform for restaurant analytics and business intelligence, globally. We aim to empower restaurants of all sizes to leverage data-driven insights and strategies to drive growth, enhance profitability and stay ahead of industry trends.
What successful start-ups do you wish you could have started and why?
While we believe in the path we have chosen with Growdash, there are several successful regional and global start-ups that we admire for their innovative approaches and impact on their respective industries.
Companies such as Deliverect, Kitopi, GrubTech and Foodics have disrupted traditional business models and transformed their respective markets. Their ability to identify and address unmet needs with technology-driven solutions is inspiring.
What new skills have you learnt in the process of launching your start-up?
Launching and growing Growdash has been a continuous learning experience. Some of the key skills we have developed include strategic decision-making, product development, team management and investor relations. Additionally, we have enhanced our problem-solving abilities, adaptability and resilience as entrepreneurs.
What is your mantra for success?
Our mantra for success was shared with us by one of our mentors; he emphasised to us early on that we should embrace continuous learning, stay adaptable to change and relentlessly pursue our vision.
Who is your role model in entrepreneurship?
We are lucky enough to operate in a region where there are incredible entrepreneurs that can provide inspiration. The likes of Zeid Husban (iFood Jordan and POS Rocket), Ahmad AlZaini (Foodics), Mohamad Ballout and Saman Darkan (Kitopi), and Magnus Olsson and Mudassir Sheikha (Careem) have been sources of inspiration and continue to motivate us to be our best selves.
COMPANY PROFILE
Company: Growdash
Started: July 2022
Founders: Sean Trevaskis and Enver Sorkun
Based: Dubai, UAE
Industry: Restaurant technology
Funding so far: $750,000
Investors: Flat6Labs, Plus VC, Judah VC, TPN Investments and angel investors, including former Talabat chief executive Abdulhamid Alomar, and entrepreneur Zeid Husban
