Which Restaurant App Just Got Funded?

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What's Next In Payments®
7:00 AM EST July 11th, 2014

Awkward silence, embarrassing inability to do grade-school math, angry recriminations about who did and did not eat that appetizer—these are the hallmarks of the experience that ruins countless meals every day in the United States, when groups of otherwise intelligent people discover that doing Bistro Math is utterly beyond them when the check arrives.

Cover wants to help those confused and angry restaurant patrons nationwide, with their app that allows users to enter payment info and tip preferences ahead of a meal. Upon entering the restaurant, the app transmits a signal to a sensor at the entrance and your tab is already set up.  Other than having to let the app know if one is joining a meal already in progress are starting fresh, users do not have to touch their tab running phone for the duration of the meal, unless the user wants to pay someone else’s tab or increase (or decrease) the tip.

“This is not a brand new idea. PayPal thought of this in the mid nineties,” said founder Mark Ergman to Venture Beat. 

It is, however, an idea that is gaining traction when done the Cover way, and the company has just picked up a $5.5 million investment from Spark Capital.  The company had previously raised $1.5 million in seed funding from investors such as OATV, Lerer Ventures, Naval Ravikant and restaurateur John McDonald—who all joined Spark in the last round.

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