Deliverect, a global scale-up that simplifies online ordering for more than 20,000 locations across 40 markets, has secured more than $150 million (€130 million) in Series D funding. The company processed one and a half million orders per week in 2021, a 300% increase in less than a year.
Deliverect will use the funding to invest in engineering and technology advancements, expanding its product portfolio (including a dedicated App Store) and scaling to serve hundreds of thousands of establishments, which now includes convenience and grocery stores in addition to restaurants.
The funding, led by Coatue and Alkeon Capital as well as existing investors OMERS Ventures, DST Global, Redpoint Ventures, Newion and Smartfin, brings Deliverect to $240 million raised to date. This round marks the company’s valuation at over $1.4 billion.
Zhong Xu, Deliverect Co-founder and CEO, said: “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. 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, commented: “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.”
Founded in 2018, Deliverect’s SaaS platform automates restaurants’ online order flow through a single point, taking delivery, table 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, Five Guys, Taco Bell, Le Pain Quotidien and Outback Steakhouse use Deliverect to bring their delicious meals to the hands of happy customers.