Toronto-based corporate catering startup Platterz has remodeled to Thriver ensuing a $43.8M CAD Series B funding round held in August 2020, led by Viola Growth, with contribution from new investors Vertex Ventures Israel, Union Tech Ventures, Journey Ventures, and FJ Labs, along with previous investors Aleph and Altair Capital.

The funding will be used by Thriver to expand into new areas and verticals, and grow its headcount.

Founded in 2015 by serial entrepreneurs Eran Henig and Yishay Waxman, Platterz provides catering services to companies. The startup had garnered more than $100M CAD in food-related orders through its platform and has amassed over 2K customers, ranging from small to large enterprises. Platterz (now Thriver) also offers multiple values-oriented programs, such as the Treat card, which enables employers to sponsor employees’ daily meals or other office expenses.

The new platform Thriver apart from offering the existing services has forayed into other zones focused on employee engagement and encouraging workplace wellbeing.

The new virtual programs allow employees to engage through activities, namely group fitness, cooking, or mental health sessions. Their vision is to help and promote a thriving workplace.

CEO Henig claimed that when Platterz was founded, the founders already had an idea of becoming a “culture hub” fixated on four specific verticals: education, wellness, F&B (food and beverage), and team-building. He also stated that their main focus was on F&B as it was the most “profitable” at the time.

The company also witnessed a “decline” in capital in the second quarter of 2020, which led to the layoff of 75 employees, that is almost 50 percent of its 150 employees. Although, the startup is now aggressively hiring people for their R&D and marketing departments as the layoffs did not affect these.

Thriver’s new platform is designed in a way to support the acceptance and application of culture-focused programs that can function even in the current pandemic period as well as usual office settings. This implies that no matter offices reopen and resume work or not, Thriver will be still available to the companies it serves. They are also looking forward to entering the European market.

The startup had previously secured 20M CAD in a Series A round of funding in January 2018 from Aleph and Altair Capital. Prior to this, they raised 6M CAD in April 2017 seed funding from undisclosed investors.

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Aishwarya writes about the startup ecosystem on VCBay. She is a third-year Computer Science engineering student who looks forward to exploring the world of startups and finance.

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