Mike MacLennan’s idea of market research as the CEO of a drive-thru AI company is loitering at Burger King. His company’s first dollar was actually given to him by a group of elderly women who believed he was panhandling at the fast food joint.
His company, Arc, is a voice AI startup that takes orders and optimizes business performance at drive-thrus. MacLennan and co-founder Ali Hussain—both Square and Cash App veterans, where they built payment infrastructure—have raised $10.76 million seed funding, Fortune learned exclusively. Andreessen Horowitz led the round. The company is already working with two major fast-food chains, each with hundreds of locations.