Starbucks grants Brightloom software license for flywheel software
Starbucks announced a deal with Brightloom, a San Francisco and Seattle tech company that is working to create an end-to-end digital customer experience platform for the restaurant industry. Starbucks is granting Brightloom a software license to select components of Starbucks proprietary digital flywheel software. In connection with the licensing agreement, Starbucks will take an equity stake in Brightloom and receive a seat on the company's board of directors. Brightloom will combine its existing technology assets with software licensed from Starbucks digital flywheel. The combination will lead to the development of a cloud-based software solution for the restaurant industry that will connect customers to their favorite restaurant brands - particularly valuable given the recent hypergrowth of mobile ordering and 3rd party delivery platforms, Starbucks said. Brightloom plans on making available the software solutions to Starbucks global license partners and will open this platform up to the entire restaurant industry of merchants. Starbucks will continue to drive software development of the Starbucks digital flywheel for all its company operated markets.