Celebrity chef Mario Carbone backs AI-powered loyalty startup Magic in $10 million seed round | Fortune
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Celebrity chef Mario Carbone backs AI-powered loyalty startup Magic in $10 million seed round | Fortune
"Speaking in his chef's whites outside of the new London outpost of his famous franchise last week, Carbone admits that he's not big into technology, describing himself as a "pen and paper kind of guy." But with a rapidly expanding empire through Major Food Group, the hospitality company he started with fellow celebrity restaurateurs Rich Torrisi and Jeff Zalaznick, pen and paper aren't enough to track their global crowd of customers and keep them coming back."
"To help solve the problem, Major Food Group is investing in Magic, a startup building AI-powered customer relationship management software, or a CRM, focused on experiences. Its first product, Loyalist, is targeted at the restaurant industry, with Major Food Group's locations already using the software, along with some of the biggest names in fine dining, including Le Bernardin, Cosme, and Momofuku. The New York-based venture firm Lerer Hippeau led the $10 million seed round."
"Maggie Tang, Magic's founder and CEO, has spent most of her young career in the restaurant industry, scoring a job on the line at the three-Michelin-starred Atelier Crenn in high school after seeing the restaurant on Netflix's Chef's Table and sending a cold email. She started Magic after graduating from Wharton, having experienced first-hand how antiquated the tech stack is at restaurants-even at the world's top restaurants-de"
Mario Carbone treats seat allocation at his roughly 75-seat Greenwich Village flagship as a precise business operation to control revenue. Reservation scarcity pushes diners to time Resy launches or rely on personal connections, and informal pen-and-paper methods cannot scale. Major Food Group is investing in Magic, an AI-powered CRM called Loyalist focused on experiences and the restaurant industry. Loyalist is already in use at Major Food Group locations and by fine-dining names like Le Bernardin, Cosme, and Momofuku. Lerer Hippeau led a $10 million seed round. Founder Maggie Tang built the product from hands-on restaurant experience and Wharton training after confronting outdated tech stacks.
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