Tech Crunch: Deliverect Acquired $150M to Streamline Food Ordering Process
Posted on February 9th 2022, 6:31:29 pm
(Image Source: Pymnts)
In a recent Series D, online ordering startup Deliverect raised $150 million at a valuation of $1.4 billion. The round was led by Coatue Management & Alkeon Capital Management, featuring others including MERS Ventures, DST Global and Redpoint Ventures.
Founded in 2018, Deliverect offers a global platform to simplify both online and offline ordering. The company’s software enables merchants to ditch tablets for different aggregators and eliminates the need for workers to manually key in orders. In just four years, the company has already sold its software to 20,000 locations across 40 markets. The platform currently serves independent restaurants as well as large chains such as Taco Bell and Pret A Manger.
“Food is the last frontier,” said Zhong Xu, CEO & Co-Founder of Deliverect. “If there were no pandemic things would have moved quite slowly because the infrastructure for a restaurant is very fragmented. We’re allowing for a new age of digital solutions and we are building a new system.”
While Deliverect’s current focus is on Europe, the startup has plans to further expand into the North America market. The new funding will be used to hire new talents, build new features on its platform and even an app store.