The online catering marketplace and software company ezCater announced this week that it has raised $150 million in a Series D-1 investment round.
ezCater has now raised $320 million in total. The latest raised funds, led by Lightspeed Venture Partners and GIC, will be used to expand the company.
“This funding expands our ability to help our catering partners grow in a way that no one else can," said Stefania Mallett, co-founder, and CEO at ezCater in a press release.
ezCater, which claims to be valued at $1.25 billion, was founded 8 years ago. Since then, the company has made a series of strategic acquisitions.
Last year, ezCater acquired GoCater, another online catering platform. But the company recently made another investment to enhance its tools for restaurant operators. In March of this year, the company acquired MonkeySoft Solutions Inc. (MSI), which is a software that offers insights to operators on how to increase off-premises sales and profits.
"ezCater is having a huge impact on the industry by moving catering online and driving substantial profitability for their partners—this is a mission we’re excited to accelerate," said Brad Twohig, partner at Lightspeed Venture Partners in a press release.
On the ezCater marketplace, there are over 60,000 local caterers and national chains including Jersey Mike’s Subs and Romano’s Macaroni Grill across the U.S.
Users plug in their zip code, then a list of restaurants in the specific area on the marketplace pops up. Customers can browse a number of restaurants to order catering from, while also seeing ratings from past customers, pricing, delivery fees, and more details.
Want to learn more? Watch the video below where the Foodable team recently spoke with an ezCater sales manager to learn more about how the company is offering a solution that helps operators leverage their catering business.