ESB, an Indonesia-based fully-integrated restaurant management software as a service (SaaS) platform, announced Monday its $29 million Series B funding round led by Northstar Group and Alpha JWC Ventures.

The round also saw participation from existing investors including BEENEXT, Vulcan Capital and AC Ventures, ESB said in a statement.

Prior to this fundraising round, ESB raised a total of $10.6 million funding from Alpha JWC, Vulcan Capital, BEENEXT, AC Ventures, Skystar Capital, and Selera Kapital.

With this fresh Series B funding, ESB will further expand its footprint in the small and medium-sized enterprise (SME) market.

Its value proposition to SMEs include: (i) simplified payment solutions (ii) working capital facilities; (iii) expanded productivity features that will help SMEs increase their sales; (iv) order and delivery channel management solutions; (v) accounting capabilities; (vi) supply chain management; and (vii) human resources information system (HRIS) capability.

This will enhance ESB’s position in the end-to-end food and beverage (F&B) business operating platform.

“We see F&B merchants, big or SMEs, as our equal partners. As a partner, we are committed to support our merchants (partners), to help them generate more sales and increase their efficiencies, which in the end will help them increase their profit,

“By achieving that, we can ensure their sustainability, bankability, and growth. When our partners grow, ESB grows, that’s how I see it.”, said Gunawan Woen, Co-Founder and Chief Executive Officer of ESB.

ESB is an all-in-one provider of culinary business operations software, with a cloud-based SaaS solution spanning front-end order taking app, Point-of-Sales (POS) system, kitchen operations software and back-end Enterprise Resource Planning (ERP) system.

Through ESB, F&B merchants also gains access to ESB’s ecosystem of third-party providers for ingredients supplies, food delivery and digital payments.

“Besides superior product offerings, our other mission is accessibility. We believe that all sizes of businesses deserve to have good support, that’s why we are expanding our services to fit not only large, established F&B groups, but also small and medium businesses with adjustable and affordable fee structure,

“We want to grow together with our fellow stakeholders because only through that we can achieve greatness,” said Eka Prasetya, Co-Founder and Chief Operating Officer of ESB.

Founded in 2018 by Gunawan Woen, Eka Prasetya, Setiadi Prawiryo Moeljadi, and Dwi Prawira, ESB’s mission is to help F&B businesses enhance their profitability by using technology to augment sales and improve operational efficiency.

Drawing on decades of experience in the F&B operations and supply chain, ESB’s founders created a unique cloud- based technology solution to replace multiple traditional hardware-based systems.

“We have been tracking ESB’s journey and are delighted to see such a mature product and developed go-to-market strategy emerging out of this region. ESB has performed well even against better capitalized global competitors in winning over and onboarding international F&B brands in Indonesia,

“ESB is now rolling out another SaaS product empowering F&B SMEs, and we are excited to partner with Gunawan and his team to help scale ESB’s solution to the rest of Southeast Asia and beyond.” said Carlson Lau, Managing Director, Northstar Group.

Alpha JWC Ventures Partner Eko Kurniadi said ESB continues to achieve greater and exciting milestones since our investment a year ago.

“They have significantly expanded its pool of F&B brands, covering businesses of any size and complexity, whilst also increased their end-to-end solutions for existing customers,

“All these attributed to the tech solutions and tenacity of the team to forge ahead. We are excited to continue this partnership with Gunawan and his team to crystallize ESB’s next evolution together,” he added.

AC Ventures Founder and Managing Partner Adrian Li said ESB’s technology platform has delivered a unique, cloud-based, end-to-end F&B solution to help restaurants reduce costs, manage their operations, and scale online delivery.

“Their platform is set to revolutionize the multi-billion dollar dine-in and takeaway market for Indonesia,” he added.

BEENEXT Partner Faiz Rahman said ESB has empowered thousands of restaurants in Indonesia during the pandemic and they have become a platform of choice to improve restaurants operations and performance.

“The founding team has shown superb execution and resilience which led them to grow even faster and ride on the growth momentum since last year. We are excited to be in the journey and this long-term partnership with ESB,” he said.

Indonesia all-in-one restaurant operations platform ESB raises $7.6M in Series A+ round led by Alpha JWC Ventures