Presto Announces Signed Agreements with 13 QSR Franchise Groups Representing More than 500 Locations Combined
17 Agosto 2023 - 10:15AM
Presto Automation Inc. (NASDAQ: PRST), one of the largest
drive-thru automation technology providers in the hospitality
industry, today shared that following its entering into various
Master Services Agreements with top QSR brands, that it has now
signed agreements with 13 franchise groups that collectively own
and operate more than 500 locations nationwide.
All signed franchisees have committed to begin deploying Presto
Voice™, Presto’s in-house, proprietary drive-thru automation
solution. Presto believes the collective rollout potential of this
group of franchisees is the largest ever reported in the
fast-developing drive-thru automation segment, representing a
significant milestone both for the firm and for the space in
general. Presto estimates the serviceable addressable market for
this space to be $2.25B in the United States alone.
“We’ve achieved notable traction with franchise operators over
the past several months and we look forward to generating
widespread adoption of our Voice AI solution at these drive-thru
locations,” said Dan Mosher, President of Presto. “The results are
encouraging for franchisees, restaurant staff, and guests. We look
forward to growing our partnership with some of the largest and
most successful QSR brands and their franchisees as we continue
working together to create delightful AI-powered guest
experiences.”
Presto Voice customers have experienced strong results to date.
With drive-thru operators seeing incremental check size increases
of up to 6%, demonstrable labor redeployment to accelerate speed of
service, and upselling as much as 4X higher than human
order-takers, Presto is helping fast-food operators achieve more
without the need to add headcount in an already-challenging labor
market.
About Presto Automation Inc.
Presto (NASDAQ: PRST) provides enterprise-grade AI solutions to
some of the nation’s largest hospitality brands. Presto Voice™, its
industry-leading automation and voice AI technology, improves order
accuracy, reduces labor costs, and increases revenue for superior
drive-thru and dine-in experiences. With over $18 billion in
payments processed, Presto is one of the largest labor automation
technology providers in the industry. Presto is headquartered in
Silicon Valley and counts among its customers several of the top 20
restaurant chains in the United States.
ContactInvestors:Adam RogersVP Investor
Relationsinvestor@presto.com
Media:Justin Foster & Brian Rubymedia@presto.com
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