Foodee Raises $6 Million Series A to Expand Corporate Catering in the US

VANCOUVER, BC--(Marketwired - February 03, 2016) - Foodee, a food concierge service that delivers meals from local restaurants to company boardrooms, today announced it has closed $6 million CAD in a Series A funding, led by BDC Capital, to fuel its ongoing expansion into US markets. To date, Foodee has raised $10 million from key Canadian and US investors including Yaletown Venture Partners, Voyager Capital, and Structure Capital.

Going after the 10 billion dollar corporate catering market, Foodee has capitalized on an unmet need within the food delivery space. Since launching in Vancouver in 2012 it has grown rapidly, establishing over 4000 customers, 250+ restaurant partnerships, and successfully expanding to Toronto, Austin, Denver, and Philadelphia. Foodee is gearing up to launch Atlanta and Minneapolis in March with several more US cities planned throughout 2016.

"Building on our success in Toronto, Vancouver, and our three pilot cities in the US, we are excited to continue our expansion plans to get quality food into boardrooms across North America," said Ryan Spong, CEO of Foodee. "Many on-demand apps create more work but less profit for the restaurants on their platform. We're looking forward to giving our new restaurant partners large, off-peak corporate orders that in many cases double their lunch-time revenue."

Foodee has set itself apart from other consumer-focused services like Postmates, Caviar and DoorDash, by catering specifically to corporate clientele and partnering with high-demand restaurants that don't deliver. Through its innovative end-to-end service, Foodee elevates all nodes on the corporate customer experience, from sales to live customer care to highly trained, office appropriate waiter-delivery staff. The tech-enabled platform ensures group dining is on-time, accurate and top quality.

"Food is a bonding experience for many people, and something that can bring a high level of morale and commadarie between coworkers. By bringing the best food from local restaurants, we're providing companies the ability to offer their employees something beyond the traditional."

"We're proud to invest in a company that is resolving the corporate catering challenge all companies across North America share," said Andrew Lugsdin, Foodee investor and partner at BDC Venture Capital. "In the upcoming months, we look forward to watching Foodee's next wave of expansion success."

For more information about Foodee, or to order your next business lunch please visit www.food.ee.

About Foodee

Foodee has made its mission to solve the biggest problems facing the corporate lunch hour: a lack of variety, meals that arrive too early or too late, and excessive package waste. Paying close attention to its impact on the environment, Foodee uses biodegradable packaging, low emission delivery methods and has partnered with in-office composting programs to lower the carbon "foodprint" around the corporate lunch. Foodee has satisfied lunchtime cravings with Fortune 500 companies such as Apple, Amazon, Comcast, eBay, Facebook, Microsoft, Starbucks, and more.