Deliverect, a Ghent-based startup striving to streamline the food delivery service options by building an online order management platform, has raised US$ 150 million in a Series D investment round co-led by Alkeon Capital and Coatue Management on 24 January 2022.
Investors: The latest investment round featured Alkeon Capital and Coatue Management as the lead investors with participation from SmartFin, Redpoint eventures, OMERS Ventures, Newion and DST Global. The startup has managed to raise, in total, over US$ 236 million to date.
Purpose of the funding: The startup seeks to deploy the fresh capital to increase its team size and develop additional features, including an app store to simplify the integration of more firms and expand geographically, especially in North America.
About Deliverect
Brought to existence in 2018 by Jan Hollez, Jelte Vrijhoef, Jerome Laredo and Zhong Yuang Xu, Deliverect unifies food ordering channels in current POS systems and provides a single platform to meet online orders, with inventory management and consolidated reporting while also systematising the flow of menu uploads and information. The firm allows both small and large restaurants to mitigate order mistakes and failures while accelerating the process of order preparation. Since its inception, the firm has collaborated with giant food chains such as Taco Bell and Pret A Manger.
What the Founder has to say: “With digitisation becoming a new trend, we have witnessed a rise in demand for streamlined online ordering by restaurants, convenience and grocery stores to meet customer satisfaction. The infusion of new funds will allow us to cater to all needs of the hospitality domain using our App Store and other services. We are thrilled about the commencement of our next growth phase, as we lead the online order automation trend.”- Zhong Yuang Xu, Co-Founder and CEO of Deliverect.
What the Investor has to say: “We can see a rise in demand for restaurant tech as shifts in consumer preferences driven by the lockdowns enforced in the pandemic compel food chains to blend into the dynamic landscape of delivery networks. We have also witnessed shifts in foodservice retail with the emergence of virtual restaurant brands and dark kitchens. Deliverect has shown utter commitment to grab the opportunities in the current business environment and envisages establishing itself as a category leader to empower restaurants worldwide. We are looking forward to our investment in Deliverect.”- Sebastian Duesterhoeft, General Partner at Coatue Management.
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