VANCOUVER, Sept. 13, 2017 /CNW/ - Foodee, a leading corporate meal delivery service enabling companies to order from top local restaurants, has secured the second tranche of a $10M Series A financing led by BDC Capital. Other participating investors include Kensington Capital Partners via the BC Tech Fund, Yaletown Ventures, Structure Capital, and Voyager Capital.
Having successfully expanded into 10 cities across North America, Foodee will use this latest investment to further develop the company's industry-leading ordering platform, as well as continue expansion.
"Foodee has taken an innovative approach to providing the best food options in a city to corporate clients - all delivered with first-rate service", said Andrew Lugsdin, Partner at BDC Capital, "It is clear from their rapid growth that the customers love it".
"We are very pleased to have participated in the new financing round of Foodee, which is positioned for strong growth in the rapidly growing online food sector," said Gerri Sinclair, Managing Director of Kensington Capital, and manager of the BC Tech Fund, "It is great to add to the BC Tech Fund portfolio a strong company that is rapidly expanding throughout North America from its Vancouver headquarters."
Foodee is among the first companies to receive investment from the $100 million dollar BC Tech Fund, due to both the company's considerable growth and also its ability to create jobs and strengthen local economies. Foodee provides restaurants with off-peak hour demand for corporate meals. Restaurants are able to fill orders outside busy hours, increasing revenue and optimizing capacity.
"This BC Tech Fund investment will help Foodee expand to new markets, while offering owner-operated restaurants the chance to reach new customers and grow," said Bruce Ralston, B.C. Minister of Jobs, Trade and Technology, "This B.C. grown technology presents a great example of how a return on investment will ripple through our economy to benefit British Columbians province-wide."
"We hope to do our part in supporting the local economy and food culture by leveling the playing field with large, corporate chains" said Ryan Spong, CEO of Foodee,
Catered lunches are an increasingly common company perk, especially for companies looking to attract top talent. Online food ordering presents a $210 billion market opportunity according to a 2016 report published in TechCrunch, and employees want more than pizza.
Since launching in 2012, Foodee has partnered with over 500 restaurants, served over 8,000 customers, and delivering millions of meals in Toronto, Vancouver, Austin, Denver, Philadelphia and more.
Foodee is a leading platform that connects offices across North America with top restaurants, bringing local food culture into boardrooms and satisfying the cravings of Fortune 500 companies such as Apple, Amazon, Comcast, eBay, Facebook, Microsoft, Starbucks and more. Foodee currently operates in 10 cities in North America and is rapidly expanding. Learn more: https://www.food.ee
For further information: Media Contact: Brittany Whitmore, Phone: 1.778.238.6096, Email: [email protected]