DTiQ Secures $145M Growth Investment from Bain Capital

Investment will enable DTiQ to pivot to a higher SaaS growth model, expand its AI-powered, video and data analytics business optimization solutions portfolio, accelerate expansion in new territories, and strengthen its leadership.

FRAMINGHAM, Mass. – Oct. 14, 2024 – DTiQ, the leading provider of SaaS-based video, analytics, and optimization solutions for operators within the Restaurant, Convenience Store and Specialty Retail industries, today announced that it has received a $145 million growth investment from Bain Capital's Private Credit Group ("Bain Capital"). The funding will drive increased innovation in AI and Computer Vision for more actionable business insights and automation, expand its SaaS product offerings, and capture new opportunities in existing and new territories.

DTiQ provides SaaS, video-based, business optimization solutions to the top names in QSR, Retail and C-Store, such as Subway, Dunkin, Burger King, Church's and others. In 2022, the company expanded its addressable market with the acquisition of Australia-based Summit Innovations providing advanced Drive Thru solutions to customers and delivering ROI-enhancing solutions both inside and now outside their stores. Proving that they recognize the everyday pains of operators in the industries they serve, DTiQ has committed publicly to providing new solutions to address their challenges further including loss prevention, speed of service, peak times, operational and compliance issues, and employee/patron safety. Most recently, DTiQ has broadened its AI-powered portfolio when it rolled out In-Store and Peak Hours Speed of Service capabilities.

"DTiQ has a customer-first, outside-in innovation approach and a cloud-first, mobile forward solution set to help restaurant and retail operators solve everyday problems and grow their businesses, said JL Valente, CEO of DTiQ. "We are thrilled to be able to accelerate our already aggressive product roadmap."

Today's announcement with Bain Capital, one of the world's leading private investment firms, underscores the significance, scale and quality of the DTiQ business, its market momentum, contributions to the hospitality industries and superiority of its portfolio in addressing key business issues for restaurant and convenient stores owners and operators, as well as specialty retailers.

"Our investment in DTiQ is an emblematic of our conviction in this well-established, globally-renowned business and its ability to innovate new AI-enhanced video and data solutions for the benefit of the restaurant and retail industries," said David Healey, a Director at Bain Capital Credit. "We're proud to support DTiQ's exciting growth trajectory with strategic capital and our long track-record of helping SaaS businesses reach their full potential."

"Given DTIQ's growth plans, existing solutions, roster of customers and leadership, this investment by Bain Capital is catalytic capital for its future," said Rick Shrotri, founder and Managing Partner of Digital Alpha Advisors, DTiQ's Private Equity partner. "We believe DTiQ is posed for profitable growth in 2025 and beyond, and we are pleased to be partnering with Bain Capital on this investment."

About DTiQ

DTiQ offers state-of-the art SaaS video surveillance, analytics and next gen Drive Thru solutions to improve loss prevention and operational excellence at multi-location Quick Service and Table Service Restaurants, retail, and convenience store locations. With 27 years of experience, DTiQ successfully enhances over 8 million consumer experiences daily, while delivering high ROI outcomes and protecting trillions of dollars in assets. DTiQ works with over 37,000 locations in the Americas, Europe and Australia / NZ, including brands such as Adidas, Burger King, Crocs, Dairy Queen, Dunkin, GNC, McDonald's, Subway, Swarovski, Taco Bell, Vineyard Vines, and Yankee Candle. For more on information, please visit dtiq.com.

About Bain Capital Credit

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $48 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 100 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital, real estate, life sciences, and insurance, and leverages the firm's shared platform to capture opportunities in strategic areas of focus.

About Digital Alpha

Digital Alpha Advisors, LLC is an investment firm focused on digital infrastructure and services required by the digital economy with total assets under management of over $1.5B. The firm has a strategic collaboration agreement with Cisco Systems, Inc. As part of this agreement, Digital Alpha has preferred access to Cisco's pipeline of commercial opportunities requiring equity financing. In addition, Digital Alpha has cultivated strategic partnerships with other Silicon Valley technology leaders, with whom it has already executed deals. Digital Alpha believes that it is the first firm focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including smart cities, next-generation broadband networks, and enterprise data management and communication solutions. Digital Alpha was founded in 2017 by Rick Shrotri, former Head of the Global Infrastructure Funds (GIF) team at Cisco, and closed its latest Fund – Digital Alpha Fund II, LP – in early 2021.