Lunchbox raises USD 20 mln in Series A funding round

Friday 30 October 2020 13:17 CET | News

Lunchbox, an online ordering engine provider for restaurants, has announced it has raised USD 20 million in a Series A round to further accelerate its growth.

Coatue led the investment in this round alongside other industry players. Coatue’s Rahul Kishore and Bennett Siegel will join Lunchbox’s board of directors as part of the new investment.

Prominent figures that joined Coatue in this funding round include chef Tom Colicchio, Behance founder Scott Belsky, Former Venmo COO Michael Vaughan, HelloFresh founder Bryan Ciambella, Planet Hollywood founder Robert Earl, and Girls Who Code founder Reshma Saujani. Lunchbox’s initial investors, 645 and Primary Ventures, are also joining.

Lunchbox plans to use the capital to scale growth nationally and to serve the restaurant industry’s need for efficient and revenue-driven solutions to sustain the current economic climate. Lunchbox will also focus on investing in further development on its platform and expand to new markets.

According to the press release, Lunchbox’s all-in-one platform has provided a viable alternative for restaurants that have grappled with reduced revenues due to the pandemic. On average, restaurants using the Lunchbox platform have seen a 30% increase in sales across their brand. Lunchbox has grown its customer base by 925% within the last year and now counts restaurant brands like Clean Juice, Bareburger, and Fuku among its partners. The company has also recently partnered with global lifestyle brand sbe to launch its first virtual food hall to unite all their restaurant brands under one app and web experience.

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Keywords: Lunchbox, Coatue, funding round, restaurant industry, app
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce