What is Nory's core product offering?

Nory positions itself as an 'Operating System' for the hospitality industry. According to Slide 4, the platform provides three primary AI-driven functions: demand prediction (90% accuracy), smart staffing (reducing labor costs by 10-20%), and supply chain automation (saving up to 50% in food waste). It aims to automate the 'busy work' so teams can focus on customers.

How does Nory justify the need for its software?

Slide 3 outlines a 'crisis' in the hospitality sector, noting that while net profits were 2-8% in 2019, 2023 brought a 30% reduction in profitability. The deck cites rising food/energy costs, 100%+ staff turnover, and a 'management brain drain' as the primary catalysts for needing automated operational support.

What are Nory's key financial metrics?

As of December 2022, Nory reported 7x growth in MRR since its February launch. Slide 5 highlights a Top ACV of >€100k, an average ACV of €30k, and 100% net retention. Crucially, they maintain high efficiency with sales and marketing spend accounting for less than 10% of their monthly recurring revenue.

Does the deck show evidence of product-market fit?

Yes. Slide 5 displays a roster of active clients including Mad Egg, Diep, Griolladh, Farmer Browns, Josie's, Stonegate Group, Viva Italia, and Dr. Juice. The combination of 7x growth and 100% net retention suggests that once hospitality groups adopt the platform, they continue to use it and expand.

What is the background of the founding team?

The team (Slide 6) combines hospitality experience with SaaS scaling. CEO Conor Sheridan was a quant fund manager and restaurateur who built a €7.5m ARR brand. Head of Engineering Raph Estrada comes from Intercom and two other B2B SaaS unicorns, while Head of Product Igor Kochajkiewicz was previously at Glofox.

Nory Pitch Deck: All 12 Slides + Teardown

See all 12 slides of the Nory pitch deck — a 2023 Seed deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Nory’s pitch deck is a lean, data-driven narrative that successfully bridges the gap between deep industry expertise and high-scale SaaS potential. By positioning their product as 'The OS The Hospitality Industry Deserves' (Slide 1), they address the specific pain points of a sector facing a 30% reduction in profitability and 100%+ staff turnover (Slide 3). The deck shines in its financial transparency, showcasing 7x MRR growth over ten months while maintaining sales and marketing spend at less than 10% of MRR (Slide 5). This combination of rapid growth and extreme capital efficiency, backed…

Key takeaways

The deck identifies a specific 'crisis' in 2023 hospitality, citing 30% profitability drops and 100%+ staff turnover (Slide 3).
Nory claims high-accuracy AI performance, stating their demand prediction is ~90% accurate for every 15-minute interval (Slide 4).
Operational efficiency is a core value proposition, with the product reportedly reducing labor costs by 10-20% (Slide 4).
The company demonstrated significant traction with 7x MRR growth between February 2022 and December 2022 (Slide 5).
Capital efficiency is a standout metric, with S&M spend listed as less than 10% of MRR (Slide 5).
The business model shows enterprise potential with a Top ACV exceeding €100k and an average ACV of €30k (Slide 5).
Founder-market fit is established by CEO Conor Sheridan, who co-founded Mad Egg and grew it to €7.5m ARR with 25% EBITDA (Slide 6).
The team composition leverages domain expertise, with ~50% of the 24-person staff having direct hospitality experience (Slide 6).

Nory Pitch Deck Analysis

Nory’s Seed deck is a lean 12-slide presentation that successfully raised $7.6M in 2023. The deck is characterized by a strong narrative arc: identifying a systemic crisis in a massive industry, presenting a high-tech solution that produces immediate ROI, and proving the team’s unique ability to execute based on both past success and current hyper-growth. In an era where investors are increasingly wary of 'growth at all costs,' Nory’s emphasis on capital efficiency and high ACVs makes it a standout example of a modern B2B SaaS pitch.

Slide 1: Title and Vision

The deck opens with a clean, branded title slide. The tagline, "The OS The Hospitality Industry Deserves," is a bold positioning statement. It suggests that current solutions are inadequate and that Nory is building a foundational layer (an Operating System) rather than just a point solution. The visual of multiple mobile screens showing various parts of the app—schedules, performance metrics, and inventory—immediately communicates that this is a mobile-first, comprehensive tool for on-the-ground staff and managers.

Slide 2: The TL;DR

Slide 2 serves as an executive summary. It posits that the 'ingredients' for a successful restaurant are universal, regardless of scale (1 to 1,000 venues). It breaks these down into three pillars: Customer-focused teams , Consistent management of COGs and Labour costs (which it notes represent 60-70% of turnover), and Automating the busy work . This slide sets the stage by focusing on the most expensive line items in a restaurant's P&L, signaling to investors that Nory is targeting the biggest financial levers in the business.

Slide 3: The Problem - A Sector in Crisis

This slide is a masterclass in establishing urgency. It compares the 2019 net profit margins of leading brands (Starbucks at 5.5%, Wagamama at 8%, Five Guys at 6%) to the 'strongest headwinds ever' faced in 2023. The slide lists four devastating metrics: a 30% reduction in profitability , rising costs, 100%+ staff turnover , and a 'management brain drain.' By including logos of established brands like Pizza Express (showing a -10% margin) and KFC, Nory demonstrates that even the giants are struggling, creating a massive market opportunity for a solution that can reclaim those lost margins.

Slide 4: The Product - Next Generation OS

Nory moves quickly from the problem to the solution. Slide 4 details three core AI-driven features:

Demand Prediction: Claims ~90% accuracy in predicting revenue and item sales every 15 minutes. · Smart Staffing: Creates optimal schedules in less than 5 seconds and reduces labor costs by 10-20%. · Supply Chain Automation: Automates the journey from purchase to pay, saving hundreds of hours and up to 50% in food waste.

The inclusion of specific, quantifiable outcomes (10-20% labor reduction, 50% waste reduction) is critical for a Seed stage deck, as it moves the conversation from 'features' to 'business value.'

Slide 5: Financials and Traction

This is arguably the strongest slide in the deck. It shows a clear bar chart of 7x growth in MRR from February 2022 to December 2022. The right-hand column lists high-signal metrics:

€100k Top ACV: Proves they can close large enterprise deals. · €30k Average ACV: Indicates a healthy mid-market presence. · 100% Net Retention: Shows that customers aren't churning. · S&M spend less than 10% of MRR: This is an extraordinary efficiency metric, suggesting that the product is either 'pulling' itself into the market or the sales process is highly optimized.

The bottom of the slide features logos of current clients, providing social proof and validating the growth curve.

Slide 6: Leadership Team

The team slide reinforces the 'Founder-Market Fit.' CEO Conor Sheridan is described as a "Quant fund manager turned restaurateur," who bootstrapped a restaurant group (Mad Egg) to €7.5m ARR with 25% EBITDA. This gives him immense credibility; he has lived the problem he is now solving. The rest of the leadership team brings 'Unicorn' SaaS experience (Intercom, Glofox), balancing industry domain knowledge with technical scaling expertise. The note that ~50% of the 24-person team has hospitality experience further emphasizes that the product is built by people who understand the end-user.

What Nory Does Well

Nory excels at quantifying the pain and the gain . Many startups speak in generalities about 'improving efficiency,' but Nory uses specific numbers: 30% profit drops in the industry vs. 10-20% labor savings and 50% waste reduction with their tool. This makes the ROI calculation simple for a potential customer and the investment case clear for a VC.

Furthermore, the capital efficiency mentioned on Slide 5 (S&M While the 12-slide deck is effective, there are notable omissions in the provided sequence:

The Ask: There is no slide explicitly stating how much they are raising or the terms of the round (though publisher reports confirm it was a $7.6M Seed round). · Use of Funds: The deck doesn't detail how the new capital will be deployed—whether for R&D, international expansion, or scaling the sales team. · Competition: There is no competitive landscape slide. While Nory positions itself as an 'OS,' it competes with legacy POS systems, shift-planning apps, and inventory management tools. Explaining why Nory wins against these incumbents would be a standard expectation for most investors. · Roadmap: The deck focuses heavily on what the product does today. A 'Future' or 'Vision' slide detailing where the AI goes next (e.g., automated procurement, fintech integrations) would help paint the 'billion-dollar' picture.

Founder's Guide: What to Copy

Use 'The TL;DR' early: Nory’s second slide immediately tells the investor what the business is about. Don't make the reader wait until slide 8 to understand the value proposition.

Anchor the problem in macro-trends: By using 2023 headlines and real-world margin data from famous brands (Slide 3), Nory makes their product feel like a necessity rather than a luxury. If your industry is facing specific headwinds, use them to create urgency.

Highlight efficiency metrics: If your LTV/CAC or S&M-to-MRR ratios are strong, put them front and center. In the current market, how you grow is just as important as how much you grow.

Leverage Founder-Market Fit: If you have previously succeeded in the industry you are now disrupting, make that the centerpiece of your team slide. Conor Sheridan’s history with Mad Egg (Slide 6) is the ultimate proof that he understands his customers' P&Ls.

Frequently asked questions

What is Nory's core product offering?: Nory positions itself as an 'Operating System' for the hospitality industry. According to Slide 4, the platform provides three primary AI-driven functions: demand prediction (90% accuracy), smart staffing (reducing labor costs by 10-20%), and supply chain automation (saving up to 50% in food waste). It aims to automate the 'busy work' so teams can focus on customers.
How does Nory justify the need for its software?: Slide 3 outlines a 'crisis' in the hospitality sector, noting that while net profits were 2-8% in 2019, 2023 brought a 30% reduction in profitability. The deck cites rising food/energy costs, 100%+ staff turnover, and a 'management brain drain' as the primary catalysts for needing automated operational support.
What are Nory's key financial metrics?: As of December 2022, Nory reported 7x growth in MRR since its February launch. Slide 5 highlights a Top ACV of >€100k, an average ACV of €30k, and 100% net retention. Crucially, they maintain high efficiency with sales and marketing spend accounting for less than 10% of their monthly recurring revenue.
Does the deck show evidence of product-market fit?: Yes. Slide 5 displays a roster of active clients including Mad Egg, Diep, Griolladh, Farmer Browns, Josie's, Stonegate Group, Viva Italia, and Dr. Juice. The combination of 7x growth and 100% net retention suggests that once hospitality groups adopt the platform, they continue to use it and expand.
What is the background of the founding team?: The team (Slide 6) combines hospitality experience with SaaS scaling. CEO Conor Sheridan was a quant fund manager and restaurateur who built a €7.5m ARR brand. Head of Engineering Raph Estrada comes from Intercom and two other B2B SaaS unicorns, while Head of Product Igor Kochajkiewicz was previously at Glofox.

Cover slide of the Nory pitch deck — Seed 2023 — Nory pitch deck, slide 1 (2023)

Nory pitch deck: the facts

Company: Nory
Year: 2023
Stage: Seed
Slides: 12
Sector: Hospitality, AI
Deck type: Fundraising Pitch Deck
Outcome: $7.6M Raised
Headquarters: Europe

Nory pitch deck PDF

The full Nory deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Nory pitch deck was used for

This is Nory’s 12‑slide seed pitch deck used in 2023 to raise approximately $7.6M–$7.7M in Seed funding for its AI‑powered operating system for restaurants and hospitality businesses.[2][4][6][7] The deck presents the company as addressing a ‘crisis’ in hospitality—labour shortages, cost pressures, and operational complexity—through AI-driven automation and data‑driven decision support for day‑to‑day restaurant management.[2][6][8] It was used after earlier bootstrapping and prior small rounds, and positioned Nory for subsequent institutional rounds (Series A in 2024 and Series B in 2025). [1][10][12]

Business model: AI-powered restaurant and hospitality operating system sold as software to multi-site hospitality businesses, helping them manage staffing, inventory, demand forecasting, and financial performance using predictive analytics.

Round: Seed
Lead investor: Triple Point Ventures and Samaipata VC (co‑leads)
Investors: Triple Point Ventures (co‑lead), Samaipata VC (co‑lead), Cavalry Ventures, Playfair Capital, Circlerock Capital
Founded: 2021
Founders: Conor Sheridan
Headquarters: Dublin, Ireland
Industry: Restaurant management / hospitality operations software, AI

Year: 2023 (seed funding reported in May 2023)

Raising: Seed capital to scale Nory’s AI restaurant operating system, continue product development, and expand across Europe.[2][4][6][7]

Raised: Approximately $7.6M–$7.7M seed round (reported as $7.6M by Business Insider and $7.7M by Nory’s own announcement).

Total funding: At least $63M raised across rounds including a seed round in 2023, a $16M Series A in 2024, and a $37M Series B in 2025.

Use of funds as presented: Further develop the AI‑powered restaurant operating system, invest in product and engineering, and expand geographically across Europe, scaling the customer base of multi‑site hospitality operators.[2][4][6][7]

What happened after the Nory deck

The 2023 seed deck helped Nory secure roughly $7.6M–$7.7M in funding, which the company used to advance its AI restaurant operating system and expand across Europe.[2][4][6][7] Subsequent Series A and B rounds in 2024 and 2025 significantly increased its capital base and confirmed investor conviction in its vertical AI hospitality thesis.[1][10][12][15]

Closed a seed round of roughly $7.6M–$7.7M in 2023, co‑led by Triple Point Ventures and Samaipata VC with participation
Expanded deployment of its AI operating system to thousands of restaurant locations, targeting 5,000 locations by the en
Raised $16M in Series A funding in 2024 to pioneer AI across the hospitality industry, building on the seed foundations.
Raised a $37M Series B round in 2025 led by Kinnevik with participation from Accel, Base10, Triple Point, and Samaipata,

What the Nory deck got right

Compelling and time‑sensitive hospitality ‘crisis’ narrative. Nory addresses a very clear and well‑documented pain point in hospitality: labour shortages, margin pressure, and complex multi‑site operations, framing the sector as in ‘crisis’ and therefore primed for efficiency‑enhancing software.[2][6][7] This gives the deck a compelling problem narrative that investors can easily understand.
Clear vertical AI operating system positioning. The company positions itself not as a point solution but as an AI‑powered operating system or ‘central nervous system’ for restaurants, integrating data from sales, inventory, workforce, and suppliers to drive predictions and recommendations.[5][6][11][14] This platform framing supports both depth of value per customer and future product expansion.
Strong, quantified ROI story for restaurant customers. External articles cite that Nory’s customers can reduce labour costs by up to 25% and food waste by 50% using the platform.[6] Including such quantified efficiency gains in the deck would provide a strong, metrics‑driven justification for adoption and help investors see tangible ROI for restaurant operators.
High‑signal investor syndicate at seed. The seed round attracted reputable early‑stage investors (Triple Point Ventures, Samaipata VC, Cavalry Ventures, Playfair Capital, Circlerock Capital), and these investors later participated or were joined by top‑tier firms in subsequent rounds.[2][4][6][7][12][13] This investor roster reinforces the deck’s credibility and signals quality to future investors.
Strong alignment with AI and predictive analytics tailwinds. Nory’s focus on AI‑driven predictions—forecasting demand, staffing needs, and ordering—aligns with broader trends in applying machine learning to operational decision‑making, and its product content emphasises continuous learning from restaurant data.[5][6][8][14] This makes the technology story credible and timely for a 2023 AI‑focused seed deck.
Post‑seed funding and adoption validate the original thesis. Subsequent Series A and B rounds, and deployment into thousands of restaurant locations, provide ex‑post validation that the thesis and narrative in this seed deck translated into real traction and investor follow‑through.[1][10][11][12][15] For someone studying the deck now, this offers a useful confirmation of the underlying story’s durability.

What could have been stronger

Limited externally visible detail on seed‑stage KPIs and unit economics. External coverage emphasises Nory’s vision and investor backing but provides limited, verifiable detail on the specific KPIs, cohort performance, or customer economics that were presented in the 2023 seed deck, so it is unclear how deeply the deck quantified retention, unit economics, or payback—metrics that are critical for a vertical SaaS platform.
Impact claims lack externally verifiable methodological detail. While public articles note that Nory helps customers reduce labour costs by up to 25% and cut food waste by 50%, these references do not specify sample size, timeframes, or control comparisons.[6] Without that detail, an investor relying only on external information may see the impact claims as strong but not fully substantiated in a rigorous, benchmarked way at seed stage.
Competitive positioning vs other restaurant OS platforms is not fully visible. Nory operates in a competitive market of restaurant and hospitality management tools, but public coverage of the seed round focuses more on the size of the opportunity than on a structured competitive landscape or explicit differentiation vs incumbents.[2][6][7] If the deck mirrored this emphasis, it may have under‑developed a comparative analysis of alternative tools and switching costs.
Ambitious scaling plans with limited externally visible execution detail. External sources highlight ambitious expansion plans (thousands of restaurants and rapid geographic scale) but do not show what operational scaling plan, hiring roadmap, or go‑to‑market structure was laid out in the seed deck to support these ambitions.[7][11] This leaves a potential gap in visibility on execution risk management at the time of the raise.

How an investor would read this deck

What draws attention

Clarity of the hospitality ‘crisis’ narrative—labour shortages, margin pressure, and operational complexity—creating a large, time‑sensitive problem for restaurants.[2][6][7]
Vertical AI SaaS model focused on restaurants, with an operating system that integrates sales, inventory, workforce and supplier data to drive predictions and recommendations.[5][6][11][14]
Evidence that early customers could reduce labour costs and food waste significantly using Nory, supporting a strong ROI case for the product.[6]
Credibility of the founding team and domain expertise, with founder Conor Sheridan drawing on operational experience and quickly attracting well‑known seed investors.[2][6][7][11]
Path from seed to Series A and B implied by later funding, suggesting that the market and product thesis in this deck ultimately supported substantial follow‑on capital.[1][10][12][15]

Risks that stand out

Execution risk in scaling from early adopters to thousands of locations across multiple countries, with differing labour and food‑safety regulations, payroll systems, and POS integrations.[5][7][11][14]
Competitive risk from both legacy restaurant management systems and new AI‑driven entrants that may offer overlapping scheduling, forecasting, or inventory features.[2][6][7][14]
Dependence on high‑quality, continuous data from customers’ operational systems; poor data quality or integration issues could limit AI performance and reduce realised ROI.[5][8][14]
Macroeconomic and sector risk: hospitality is cyclical and vulnerable to shocks (pandemics, cost‑of‑living crises), which can affect customer budgets and churn even if efficiency tools are helpful.[2][6][7]

Questions this deck invites

What did Nory’s customer base, average locations per customer, and cohort retention look like at the time of the 2023 seed round, and how have these metrics evolved since then?[7][11]
How does Nory’s pricing model (per‑location, per‑seat, or usage‑based) map onto the ROI it claims (labour cost reduction and waste reduction), and what payback period did customers see at seed stage?[6]
What specific AI techniques and data infrastructure underpin Nory’s predictions, and how differentiated are they relative to other restaurant management and scheduling tools?[5][6][8][14]
How does Nory manage integrations with point‑of‑sale, payroll, inventory, and supplier systems in different geographies, and how much implementation effort is required for a new multi‑site customer?[5][8][14]
What were the key risks or constraints highlighted in the seed deck around regulatory changes, labour laws, or data privacy in hospitality, and how has the company addressed these as it scaled internationally?

What founders can take from the Nory deck

A tightly focused vertical AI thesis—an operating system purpose‑built for restaurants—can attract strong seed‑stage interest when paired with a clear, sector‑specific pain narrative.[2][5][6][7]
Quantified operational outcomes, such as reductions in labour cost and food waste, make a compelling case for ROI when selling AI software into thin‑margin industries like hospitality.[6]
Positioning the product as a ‘central nervous system’ or operating system for an industry helps investors see both expansion potential within existing customers and a long‑term platform vision.[5][6][11]
Sequencing funding from bootstrapping and early checks into a well‑framed institutional seed round can set a company up for sizable Series A and B raises if the core thesis is validated.[1][2][6][10][12]
Backing from sector‑experienced early‑stage VCs (such as Triple Point Ventures and Samaipata) can be an important signal when pitching a specialised B2B SaaS product to later‑stage investors.[2][6][7][12]

Nory pitch deck: common questions

What does Nory do?

Nory is an AI-powered operating system for restaurants and hospitality businesses that centralises data from sales, inventory, workforce, suppliers and recipes to make predictions and recommend actions that improve profitability and operational efficiency.[5][6][8][11] It acts as a ‘central nervous system’ for a restaurant group, supporting decisions around staffing, ordering, menu, and financial performance.[6][11]

How much did Nory raise with its 2023 seed pitch deck?

In 2023 Nory secured about $7.6M–$7.7M in Seed funding using a 12‑slide deck that focused on the hospitality ‘crisis’ and how its AI operating system improves efficiency and profitability for restaurants.[2][4][6][7] The seed round followed earlier bootstrapping and smaller investments, and preceded a $16M Series A announced in 2024 and a $37M Series B in 2025.[1][10][12]

Who invested in Nory’s 2023 seed round?

The 2023 seed round was co-led by Triple Point Ventures and Samaipata VC, with participation from existing backers Cavalry Ventures and Playfair Capital and new investor Circlerock Capital.[2][4][6][7] These investors had already backed or would go on to back multiple European SaaS and fintech companies, positioning Nory within an established early‑stage VC network.[2][6][12]

Who founded Nory and where is it based?

Nory was founded in 2021 by Irish entrepreneur Conor Sheridan and is headquartered in Dublin, Ireland.[7][11] The company focuses specifically on the hospitality and restaurant sector, with its platform deployed across thousands of restaurant locations and a goal of expanding to tens of thousands of sites globally in the following years.[5][11][12]

What happened to Nory after the seed round raised with this deck?

After the 2023 seed round, Nory raised $16M in Series A funding in 2024 to further pioneer the use of AI across hospitality, followed by a $37M Series B in 2025 led by Kinnevik with participation from Accel, Base10, Triple Point, and Samaipata.[1][10][12][13][15] These rounds increased its total funding to at least $63M and supported international scaling of its AI restaurant operating system.[1][10][12][15]