For Investors

The AI ordering layer
for full-service restaurants

Relay captures a greenfield opportunity: ambient voice-to-POS automation in a ~$1.25B addressable market with zero direct competitors. Below: traction, market, business model, and competitive landscape.

10 Signed LOIs

22 Locations in pipeline

5.3x Operator ROI

100+ Operator interviews

Traction

Real demand, real commitments

Signed LOIs

Locations in Pipeline

75-80%

Demo-to-LOI Conversion

100+

Operator Interviews

5.3x

Operator ROI

$10.2K

Annual Savings / Location

<2 mo

Payback Period

35s

Saved Per Order

Pipeline

Growing operator commitments

Pilot LOIs Signed

10 locations committed

Signed

Validation LOI

1 location

Signed

Verbal Commitments

4 locations

Verbal

Expected

7 locations

Expected

Market

~$1.25B addressable market

150K full-service and 200K quick-service restaurants in the US, plus phone ordering, each spending hours per day on manual order entry.

Segment	Value	Basis
TAM	~$1.25B	150K FSR + 200K QSR + phone ordering at $99-$349/mo
SAM	~$500M	Independent and small-chain restaurants (~40% of locations)
SOM	~$3M/yr	1-2% SAM penetration over 3-5 years (~1,500 locations)

Business Model

Simple, scalable SaaS

$99-$349/mo

Per location (tiered)

Starting at $99/mo per location

$3,240

Customer LTV

LTV/CAC ratio of 3.6-10.8x

$100-900

CAC Range

Efficient operator-led sales motion

Competition

Greenfield category

No incumbent solution exists for ambient voice capture in full-service dining with direct POS injection.

Category	Examples	Why They're Not Relay
QR / Tablet Ordering	Toast TakeOut, Square Online	Requires guest behavior change; high abandonment in dine-in
Drive-Through Voice AI	SoundHound, ConverseNow	Fixed menus; cannot handle dine-in complexity
Kitchen Display / Workflow	KitchenOS, Fresh KDS	Post-order optimization; doesn't address order capture