03/02/2022 – Retail / Takeaway / Deliverect / Restaurants / Delivery / Investment / SaaS / Online
Deliverect raises $150m in Series D funding, as it surpasses 100 million orders processed
Deliverect, a global scale-up that simplifies online ordering for more than 20,000 locations across 30 markets, today announced it secured more than US$150 million (€130 million) in Series D funding.
The funding, which is led by Coatue Management LLC and Alkeon Capital Management, as well as existing investors OMERS Ventures, DST Global, Redpoint Ventures, Newion and Smartfin, brings Deliverect to US$240 million raised to date. This round marks the company’s valuation at over US$1.4 billion.
With this latest round of funding, Deliverect is investing in engineering and technology advancements, expanding its product portfolio and scaling to serve hundreds of thousands of establishments, which now includes convenience and grocery stores in addition to restaurants. To better support these customers, Deliverect is also launching a dedicated App Store. The efforts driven by this financing will contribute to expanding the company’s footprint and accelerating its growth. Deliverect has received 100 million orders to date and processed one and a half million orders per week in 2021 alone – a 300-per-cent increase in less than one year.
Leading in online order automation
“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,” said Zhong Xu, Deliverect Co-founder and CEO. “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.”
Sarah Venning, Chief Digital and Information Officer of Pret A Manger said: “Over the past two years we’ve transformed our business to bring Pret to more people, which includes significantly growing our online delivery platforms and reshaping how customers order with us. With the help of Deliverect, we’ve enabled significant growth for our delivery partner business, and introduced a system that our shop teams love and find easy-to-use, helping us to serve more customers digitally than ever before.”
Taking online orders straight to the kitchen
Founded in 2018, Deliverect’s SaaS platform automates restaurants’ online order flow through a single point, taking delivery, table dine-in app or takeout requests from services like Uber Eats, Grubhub, Deliveroo, Doordash, Foodora, Shopify and more, and transferring them straight to the kitchen.
Both small independent restaurants and large global chains such as Kentucky Fried Chicken (KFC), Chipotle, Time Out Market, Taco Bell, Le Pain Quotidien and Outback Steakhouse use Deliverect to bring their delicious meals to the hands of happy customers.
Operating in over 30 markets around the world, Deliverect’s SaaS platform allows over 20,000 establishments to improve operational service and increase customer satisfaction.
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