The leading provider of hospitality workforce management, Fourth, and the US provider of management solutions for restaurants, Hotschedules, merged their businesses under the name Fourth Enterprises. The merger was backed by the investment companies Marlin Equity Partners and Insight Venture Partners. Financial terms and further details were not disclosed.
Fourth Enterprises will be the largest and only one provider of end-to-end fully integrated restaurant and hospitality management software for customers ranging from a single location or franchisee restaurant to a global restaurant or hotel chain. Its complete software-as-a-service solution suite will include scheduling, time and attendance, applicant tracking, training, inventory management/procurement, HR/benefits, and payroll services. Fourth Enterprises will be managed by Ben Hood, CEO of Fourth, and will be headquartered in both Texas and London. The merger will serve 7,000 customers in 120,000 locations worldwide, some of which will include chains such as Hilton, Subway, Ihop, Applebees, and others.
“The merger of Fourth and HotSchedules presents a huge opportunity for growth and innovation,” said Ben Hood. “We are excited to join forces with a company that aligns so closely to our mission, values, history, culture and overall commitment to customer success. After overseeing Fourth’s journey to date, it is a dream partnership.”
Fourth Ltd. is an international provider of complete, end-to-end restaurant and hospitality management solutions that empower operators to optimize profits, enhance guest satisfaction, improve employee engagement and scale profitably. The company is supported by a team located across offices in the US, UK, Bulgaria, China, Australia, and UAE. Fourt Bulgaria employs 130 people and has revenue of €4.6 M and €160,000 profit for 2018.
HotSchedules provides an employee scheduling and workforce management application designed for restaurants, retailers, hospitality industries, and other customer-facing businesses. The HotSchedules platform automates operational tasks such as scheduling, shift communication, reporting, forecasting, recruiting and training.
