Engagement — Platform Due Diligence
Code & Co. provides AI & Tech Due Diligence to Expedition Growth Capital ahead of its investment in Nesto, an AI-driven workforce management platform.
Nesto Software GmbH, a Karlsruhe-based workforce management platform for restaurant groups, has raised €11 million in growth equity from Expedition Growth Capital, a London and Boston-based fund that targets bootstrapped European software businesses with more than €4 million in annual recurring revenue.
Scope of work
Code & Co. advised Expedition Growth Capital on AI & Tech Due Diligence through an in-depth evaluation of the Nesto platform, covering its AI-enabled workforce management solution, software architecture, and approach to data-driven forecasting and automation.
The assessment further examined the underlying technology stack, cloud infrastructure, scalability, and cybersecurity practices, and concluded with a review of Nesto’s engineering organization, software development lifecycle, and key considerations for supporting continued product development and growth.
About Nesto
Nesto is a pioneering AI-driven platform based in Germany, specializing in workforce management solutions for the hospitality sector. By automating end-to-end personnel planning, including demand forecasting, scheduling, time tracking, and payroll, Nesto enables over 1,000 hospitality businesses to optimize their staffing processes. The platform's advanced AI capabilities allow for demand-based scheduling with over 90% accuracy, significantly reducing labor costs by 8-12% and streamlining operations across multiple locations. https://nesto-software.com
About Expedition Growth Capital
Expedition Capital is a software & AI specialist growth equity firm, with offices in London and Boston. Expedition Capital partners with ambitious, rapidly growing companies that have achieved significant traction. The firm brings capital for growth initiatives and shareholder liquidity, highly relevant operational expertise, and a trusted track record of respectfully partnering with founders on their path to category leadership. https://expedition.capital/