Parrot Software Secures $2.1M to Expand in Mexico - Restaurant POS

Roberto Cebrián and David Villarreal, the two individuals who established Parrot Software, initially connected while attending high school in Monterrey, Mexico. Over the subsequent eleven years, each has built a thriving career within the technology sector and also formed a familial bond – they are now brothers-in-law.

Currently, they are collaborating on a new venture, utilizing Cebrián’s background in leading a point-of-sale business and Villarreal’s professional experience gained at both Uber and the rapidly expanding scooter and bicycle rental company, Grin.

Cebrián’s prior experience in establishing the point-of-sale company, S3 Software, served as the basis for Parrot Software and its service designed to oversee restaurant operations. 

“Roberto has dedicated the last six or seven years to this industry,” Villarreal explained. “He observed a consistent lack of adequate service for [restaurants]… Roberto presented the concept to me, and I became deeply engaged, ultimately leading to our decision to launch the company.”

The company is currently operational in over 500 restaurants throughout Mexico and serves established chains such as Cinnabon, Dairy Queen, Grupo Costeño, and Grupo Pangea.

Headquartered in Monterrey, Mexico, the company has successfully attracted investment from prominent North American investors, including Liquid2 Ventures (led by Joe Montana), Foundation Capital, the Superhuman angel fund, and Ed Baker, a product leader at Uber. These investors have collectively contributed $2.1 million to the developing company.

Since its inception, Parrot has secured contracts in ten different cities, with a particularly strong presence in Northeastern Mexico, specifically around Monterrey, according to Villarreal.

The market for restaurant management software is substantial and continues to expand. This significant category is projected to achieve $6.94 billion in global sales by 2025, as indicated in a report by Grand View Research.

Investors in the U.S. market clearly recognize the potential of a business like Toast. That company has secured approximately $1 billion in funding from firms including Bessemer Venture Partners, the private equity firm TPG, and Tiger Global Management.