Finance General News

Now valued at $1.25 billion, Ezcater gets investment amounting $320 million in total

ezcater food

Date: 2nd April 2019

The recent D-1 investment round that took place, Ezcater successfully raised $150 million. The firm serves as an online ordering platform for its customers by connecting them to restaurants and eateries. The total investment that this business, started in 2007, has received amounts to $320 million after the latest round of investment.

The D-1 investment round was spearheaded by giants like Lightspeed Venture Partners and GIC. There were other investors as well, including Iconiq Capital. The firm, after this round of investment, stands at a valuation of $1.25 billion.

While the service originally started in the US, it aims to expand in the international markets as well. This aspiration has seen light recently when Ezcater took over GoCater in France last year. The firm said in a statement that the capital raised would be used in increasing its efforts in the expansion in the global market.

Ezcater focuses on providing its service to restaurants that can take up larger orders. Its service includes assistance in technology, menu setting, facilities and customer service so that restaurants can put up with huge orders within the time limit provided.

According to Ezcater, about 60 thousand restaurants make use of their service. The firm also claims that most of the Fortune 500 companies use Ezcater to place orders for food.

The increasing ambitions of the firm also point towards the possibility of an initial public offering being issued. This year has seen various companies going public, including Lyft, and others gearing up to do so soon. Co-founder Stefania Mallett said in a statement that they are not currently made their minds on any of such possibilities.

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