Herndon, VA, April 07, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Tysons, Va.-based Curbside Kitchen, developer of a platform that manages and connects owners of commercial office and multi-family residential buildings with food truck vendors as way to expand amenity options. In August 2019, CIT’s Virginia Founders Fund (VFF) made an initial investment in the company to complete a full build-out of their technology and hire additional team members. This investment from CIT GAP Funds will be used to continue expanding business operations.
To date, approximately 75% of Curbside Kitchen’s client base has been made up of office properties and the remaining 25% is residential properties. However, as a majority of office tenants have started working from home in an attempt to slow the spread of coronavirus, Curbside Kitchen has shifted their focus towards multi-family properties to help bring additional breakfast, lunch or dinner options closer to residents practicing social distancing.
“As our communities deal with new challenges related to coronavirus, including lifestyle changes such as avoiding restaurants, Curbside Kitchen is proud to connect multi-family building owners with food solutions for their residents as well as waive fees for food trucks as a way to support the many small businesses that rely on opportunities to vend,” said Amy Katz, CEO of Curbside Kitchen. “We are working closely with our food truck partners to ensure that food is prepared using the safest methods possible, and that each delivery solution can be done to alleviate clusters of people. Thanks to the support of CIT GAP Funds and the growth we have experienced over the last year, Curbside Kitchen has also been able to quickly roll out mobile and text ordering.”
As part of the company’s Curbside Cares program that aims to provide food assistance, Curbside Kitchen partners with nonprofits such as Nourish Now to deliver meals to families that are food insecure. Food trucks rotate monthly to serve hot, fresh and culinary diverse meals on site to families in need. Curbside Kitchen has also partnered with Fuel the Fight DC to bring the food truck experience to healthcare providers in the DMV region. On Friday, April 3, 2020, Curbside Kitchen delivered 50 donated meals to medical professionals at Georgetown Hospital’s oncology department with food truck partner Fava Pot.
“CIT is proud of each of our portfolio companies that are stepping up in a variety of ways to help during this pandemic. Curbside Kitchen is absolutely living up to their mission to “meet on the curb for a meal” as they fill a gap in food access that is being exacerbated by coronavirus,” said Jennifer O’Daniel, Investment Director at CIT GAP Funds. “Curbside Kitchen’s experienced leadership team is in a great position to continue rapid growth, and we look forward to following their success as they expand their coverage nationally in the future.”
Curbside Kitchen’s all-in-one platform provides building managers with tools for scheduling food trucks, circulating menus with tenants, entering orders, marketing their customized programs directly to the individual users in their buildings, and feedback loops on how trucks are performing at properties. The company’s proprietary software simplifies booking and marketing functions by managing the entire engagement and provides building owners with a competitive advantage in keeping and attracting new tenants. The platform also allows buildings to provide a rotating restaurant outside their building or inside their existing social areas as “Pop Up” restaurants without having to spend upfront capital to do so.
For more information about CIT GAP Funds, please visit: https://www.cit.org/.
About Curbside Kitchen
Curbside Kitchen partners with building owners and property managers creating customized food truck solutions utilizing our proprietary optimization software. Curbside Kitchen offers a unique service to property managers and food trucks by simplifying the process of providing hungry employees with culinary diversity and a variety of food choices daily! Whether it's a one-off request for a tenant event or a reoccurring weekly request for your anchor tenants' favorite food truck, our system automates and manages the schedules for property managers and food trucks. For more information, please visit: https://www.curbsidekitchen.com/.
About CIT GAP Funds
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds’ investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel has convened leading regional entrepreneurs, angel and strategic investors, and national venture capital firms in the interests of Virginia’s entrepreneurs. Membership has included New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric, and Alpha Natural Resources. For more information, please visit www.citgapfunds.org.
About the Center for Innovative Technology (CIT)
Investing in Virginia's Growth | CIT concentrates on the early commercialization and seed funding stages of innovation, helping innovators and tech entrepreneurs launch and grow new companies, create high paying jobs and accelerate economic growth throughout the entire state of Virginia. Founded in 1985, CIT accelerates next generation technologies and technology companies through commercialization, capital formation, market development initiatives, and expansion of broadband throughout Virginia. Our programs include | CIT GAP Funds | Commonwealth Research Commercialization Fund (CRCF) | Virginia Founders Fund | Broadband/Rural Broadband | Smart Communities | Cybersecurity | Unmanned Systems | SBIR/STTR Support (Small Business Innovation Research (SBIR) & Small Business Technology Transfer (STTR) programs) | University Partnerships | Startup Company Mentoring & Engagement. CIT’s CAGE Code is 1UP71. Contact: 2214 Rock Hill Road #600, Herndon, VA 20170 | 703.689.3000 | www.cit.org | You can also follow CIT on Twitter, LinkedIn and Facebook.
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