Bristol business getting a Wriggle on to fill empty seats
Technology is making it easier to start up a business, with thousands of ideas standing a better chance than ever of becoming viable ventures. We continue our look at 10 of the most promising UK start-ups with Wriggle.
From daily deals websites to exclusive social media offers, there’s many ways to source customers for restaurants, bars and other food and drink venues using new technology.
Entering a fairly crowded marketplace can be daunting, but Bristol-based Wriggle is up to the challenge.
Founded in early 2014 by Rob Hall, Wriggle initially started life as a concept to help businesses in Bristol reduce food waste and quickly evolved into a platform to allow food and drink venues to tackle quiet times and fill empty seats.
Hall admits they’ve been very lucky with funding.
"We got our very first funding at idea stage from a fund in called Webstart Bristol,” he says.
“I used that to build version one of our mobile app and get our first 1,000 customers, and with that traction raised £160,000.
"Thankfully funding just fell into place at the right time.”
However, trying to raise additional investment has been more difficult.
“The challenge recently has been to raise follow-on investment at the £400,000 - £500,000 level. It's a tricky amount to raise.
"We've overcome it through a lot of legwork to meet angel investors and closing the round on crowdfunding platform Seedrs.”
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Securing the rights to the use of the brand new was another hurdle to overcome. The name ‘Wriggle’ had already been trademarked under the mobile app category.
Hall is now working to achieve the company’s revenue goals – he wants to achieve turnover of at least £10m by 2019 which will support his strategy for the next stage of the business,
“If we achieve that turnover level, then we'll be an extremely attractive acquisition target for a number of large food and drink players, given the valuable data we gather on customers' last-moment purchasing behaviour,” he says.