Presto

Presto is a restaurant technology company that sells drive-thru voice automation to quick-service restaurant (QSR) operators. Its core product, Presto Voice, automates order taking at the drive-thru speaker, recommends add-ons and specials to raise average order value, and is positioned by the company to improve order accuracy, service speed and staff productivity. The company describes itself as offering the industry's most widely adopted drive-thru ordering assistant and says it uses a "spectrum" of voice AI approaches rather than a single model, on the view that one approach cannot cover all customer and guest expectations.

Founded in 2008 at MIT, Presto initially built in-restaurant ordering and payment technology for full-service chains, launching Presto Touch in 2012. It began AI development in 2018 and introduced Presto Voice in 2022, after the COVID-19 pandemic shifted consumer demand toward quick-service formats amid restaurant labor shortages. By 2024 the company had refocused entirely on drive-thru voice AI automation. A Y Combinator profile (Summer 2010 batch) describes Presto as automating large chain restaurants using a combination of computer vision, voice AI, payments and hardware/software solutions.

After a period as a publicly traded company following a 2022 SPAC merger, Presto Automation put its assets up for sale in September 2024 following a default on a loan from Metropolitan Partners Group that led to foreclosure and an asset auction. The auction concluded on December 3, 2024, with a venture capital group led by Remus Capital, alongside Link Ventures and Metropolitan Partners Group, acquiring the assets and injecting $18 million of new capital. The company was taken private, rebranded Presto Phoenix, and retained the Presto Voice platform, technology and team.

Founding story

Presto was founded in 2008 at MIT and spent its early years building technology that changed how diners ordered, paid and interacted at full-service restaurant brands. Y Combinator lists Rajat Suri as founder and CEO.

Business model

Presto sells its Presto Voice drive-thru ordering assistant to restaurant chains and franchise operators, deploying the system at store level and integrating with existing point-of-sale and headset infrastructure. The company emphasizes ease of installation at scale, 24/7 availability and measurable return on investment such as incremental revenue from automated upselling.

Traction

The company reports customer-facing performance figures of up to 95% non-intervention rates, up to 88% upsell offer rates and up to 6% monthly incremental revenue increase. Presto Voice deployments have been reported at select Carl's Jr./Hardee's and Taco John's locations, with announced expansions including a nationwide rollout with Wienerschnitzel and a Dairy Queen voice AI partnership. Y Combinator lists a team size of 200.

Latest developments

Following the December 2024 asset sale and $18 million capital injection, Presto operates as a private company under new ownership with refreshed digital branding and an exclusive focus on drive-thru voice AI. Subsequent company announcements include a Dairy Queen voice AI partnership (April 2026), a nationwide expansion with Wienerschnitzel, and a Memorial Day campaign with USA Cares (May 2026).