Belgium-based online food delivery management company Deliverect announced on Tuesday that it has raised over $150M (€132.6M) in a Series D round of funding. Deliverect has now raised a total of $240M to date and reached a valuation of $1.4 billion.
The round was led by Coatue Management LLC and Alkeon Capital Management. . Existing investors Newion, OMERS Ventures, DST Global, Redpoint Ventures, and Smartfin also participated.
Deliverect provides a SaaS platform that integrates online orders from food delivery channels allowing restaurants to improve operational service and improve customer satisfaction.
Fund utilisation
The company claims it will use the funds to expand its portfolio, invest in engineering and technology advancements, and scale to serve more establishments, including convenience and grocery stores in addition to restaurants.
The company also announced plans to launch a dedicated App Store to improve customer support and experience.
Deliverect co-founder and CEO, Zhong Zu, says, “As digitisation becomes more and more popular, we’ve seen how much not only restaurants, but grocery and convenience stores need streamlined online ordering to meet customer satisfaction, especially among Millennials and Generation Z shoppers. This funding will advance our efforts to serve everyone in the hospitality community through our App Store and beyond. We’re thrilled for Deliverect’s next phase as the leader in online order automation, especially as so many people prefer the convenience of ready-to-eat food delivery today.”
About Deliverect
Founded in 2018 by Zhong Xu, Jan Hollez, Jelte Vrijhoef and Jerome Laredo, Deliverect’s SaaS platform automates restaurants’ online order flow through a single point. The platform integrates multiple services that a restaurant may be using, like Uber Eats, Grubhub, Deliveroo, Doordash, Foodora, Shopify and more, and transfers orders from them straight to the kitchen.
It also integrates table orders and takeaway requests into the platform, allowing restaurants to have real-time visibility into inventory and orders, and better manage them.
Deliverect claims to have received 100M orders to date and processed 1.5M orders per week in 2021 alone, a 300% increase in less than one year.
The company counts large global chains such as KFC, Chipotle, Five Guys, Taco Bell, Le Pain Quotidien and Outback Steakhouse, as well as smaller independent restaurants among its clients.
The company currently serves more than 20,000 establishments in over 30 markets across the world.
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