Platform that automates food and beverage delivery orders for hospitality businesses including Pret A Manger, Le Pain Quotidien and KFC, secures major new investment bringing the company’s valuation to more than $1.4bn
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Deliverect’s software automates the flow of delivery orders from third parties such as Uber Eats, Grubhub, Deliveroo and Doordash | Photo credit: Kai Pilger
Food and beverage delivery management platform Deliverect is set for further growth after securing $150m new investment. The funding round, which was led by Coatue and Alkeon Capital, as well as existing investors OMERS Ventures, DST Global, Redpoint Ventures, Newion and Smartfin, brings Deliverect’s total funding raised to $240m and values the company at over $1.4bn.
Founded in Ghent, Belgium, in 2018, Deliverect’s software automates the flow of food and beverage delivery orders from third parties such as Uber Eats, Grubhub, Deliveroo and Doordash, enabling operators to manage online menus and generate sales data.
The service is currently used by major hospitality brands, including
Pret A Manger, Le Pain Quotidien, KFC and Chipotle, but has also been adopted by smaller operators and dark kitchens.
Deliverect says it will use the new funding seek opportunities outside the hospitality and foodservice industries to grow its convenience store and retail sector presence.
“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,” said Zhong Xu, Deliverect Co-founder and CEO.
“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,” Zhong added.
Deliverect reports that it processed more than half a million orders a week in 2021 from its hubs in Europe, North America, South America, Australia, and the Middle East
Food and beverage delivery has seen significant growth over the last 18 months, driven by Covid-19 lockdowns and a growing trend towards convenience among consumers around the world.
In the UK, coffee chains including Costa Coffee, Starbucks, Greggs, and Gail’s have all introduced food and
beverage delivery via third-party providers. Although just 16% of UK consumers surveyed by World Coffee Portal in 2021 indicated they had ordered beverages for delivery, nearly a quarter said they would consider to using such a service if it were more readily available.
In China, coffee shop delivery is already widespread, with
86% of consumers surveyed by World Coffee Portal in 2020 indicating they had previously ordered takeaway coffee for delivery, with more than half doing so 2-3 times a week.