MINNEAPOLIS, Aug. 27, 2018 /PRNewswire/ -- Foodsby, Inc.,
a leading lunch delivery service connecting office professionals
with local restaurants, has secured $13.5
million in Series B funding, bringing total funding to
$21 million. The funding round was
led by Piper Jaffray Merchant Banking and included investments from
Series A funding partners Greycroft Partners, Corazon Capital, LLC
and Rally Ventures. The additional funding will drive continued
market expansion and talent investment.
Founded in 2012, Foodsby has redefined food delivery by enabling
employees in office buildings to order lunch from local restaurants
and get it delivered straight to their office. Busy professionals
place orders online, orders are aggregated via Foodsby.com, and the
restaurants delivers all the meals at once. As a trusted partner to
thousands of office buildings and restaurants, Foodsby is truly a
turnkey solution, offering a sustainable food amenity for offices,
increased profits for restaurants, and a convenient and affordable
lunch option for consumers.
"It is the hard work and dedication of our team that has allowed
us to achieve this important next step," said Ben Cattoor, CEO, Foodsby. "We have established
a successful model for new market entry with a tried and true
combination of talent and technology. We look forward to building
on our early successes and learnings to deliver continued growth
for our investors and our team."
"Foodsby caught our attention because of its differentiated
model and exceptional value proposition, not only for consumers,
but also for restaurants and building owners/tenants," said
Ted Christianson, managing director
of Piper Jaffray Merchant Banking. "We are very excited to be
partnering with the Foodsby team to help them continue their
impressive growth."
Foodsby will continue its growth trajectory in 2018 through
expansion to 15-25 new markets and deepening its talent base on the
sales, marketing and development teams.
About Foodsby
Foodsby, Inc. is a network of local restaurants and commercial
properties solving lunch for busy office professionals. Founded in
2012, Foodsby currently serves 15 major markets and is
headquartered in Minneapolis,
Minn.
About Piper Jaffray
Piper Jaffray Merchant Banking (PJMB) is a part of the asset
management business of Piper Jaffray Companies (NYSE: PJC) and
operates as the private equity arm of the firm. The group seeks
investments in private, commercial stage businesses with strong
growth prospects within the industry sectors covered by
Piper Jaffray equity research and
investment banking resources. Piper Jaffray Companies (NYSE: PJC)
is a leading investment bank and asset management firm. Securities
brokerage and investment banking services are offered in the U.S.
through Piper Jaffray & Co.,
member SIPC and FINRA; in Europe
through Piper Jaffray Ltd., authorized and regulated by the U.K.
Financial Conduct Authority; and in Hong
Kong through Piper Jaffray Hong Kong Limited, authorized and
regulated by the Securities and Futures Commission. Asset
management products and services are offered through five separate
investment advisory affiliates―U.S. Securities and Exchange
Commission (SEC) registered Advisory Research, Inc., Piper Jaffray
Investment Management LLC, PJC Capital Partners LLC and
Piper Jaffray & Co., and
Guernsey-based Parallel General Partners Limited, authorized and
regulated by the Guernsey Financial Services Commission. Learn more
at piperjaffray.com.
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SOURCE Foodsby, Inc.