Velocity

Velocity is the world’s leading international digital hospitality service, connecting guests with frictionless, rewarding experiences at outstanding restaurant and nightlife destinations. Velocity partners with the world’s best venues and empowers them to attract, delight, and retain high-value global customers. The service enables diners to leverage an international dining profile wherever they go, rewarding them for their global hospitality engagement through the power of mobile payments. Having acquired Cover, Tab Payments and Uncover, Velocity harnesses best-in-class discovery, reservations, mobile payment, loyalty and CRM technology to deliver more value than ever to our venue partners, while enriching the lives of our customers. Following a $16m Series A round and boasting over 800 of the world's finest restaurants - including 70 Michelin stars - in London, New York, San Francisco, Los Angeles, Miami, Toronto and Montreal, Velocity is now positioned as the global leader in digital hospitality technology. Velocity is hiring and will launch in multiple hospitality capitals across North America, Europe and Asia over the coming 12 months.
Company Growth (employees)
Type
Private
HQ
London, GB
Founded
2014
Size (employees)
56 (est)-1%
Velocity was founded in 2014 and is headquartered in London, GB

Velocity Office Locations

Velocity has offices in London, New York, Los Angeles, Miami Beach and in 1 other location
London, GB (HQ)
25 Sackville St
Los Angeles, US
7083 Hollywood Blvd
Miami Beach, US
Lincoln Building 350 Lincoln Rd
New York, US
110 Greene St
San Francisco, US
1263 Howard St
Show all (5)

Velocity Financials and Metrics

Summary Metrics

Founding Date

2014

Total Funding

$17.4 m

Latest funding size

$4 m

Time since last funding

over 2 years

Investors

Velocity's latest funding round in September 2015 was reported to be $4 m. In total, Velocity has raised $17.4 m

Velocity Financials

Velocity's revenue was reported to be £277.5 k in FY, 2017 which is a 432% decrease from the previous period.
GBP

Revenue (FY, 2017)

277.5 k

Gross profit (FY, 2017)

62.3 k

Gross profit margin (FY, 2017), %

22%

Net income (FY, 2017)

(6.8 m)

EBITDA (FY, 2017)

(6 m)

EBIT (FY, 2017)

(7.1 m)

Cash (30-Apr-2017)

4.4 m
GBPFY, 2016FY, 2017

Revenue

(83.5 k)277.5 k

Cost of goods sold

108.9 k215.2 k

Gross profit

(192.3 k)62.3 k

Gross profit Margin, %

230%22%
GBPFY, 2015FY, 2016FY, 2017

Cash

68.4 k1.1 m4.4 m

Accounts Receivable

87.7 k65.2 k63.6 k

Inventories

109 k

Current Assets

156.1 k1.8 m5.6 m
    GBPFY, 2016FY, 2017

    Net Income

    (9.1 m)(6.8 m)
      GBPY, 2017

      Revenue/Employee

      5.1 k

      Financial Leverage

      1.1 x
      Show all financial metrics

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