B2B Payments

Catering Marketplace Expands With $4M Investment

ezCater was created to connect businesses with reliable local caterers and restaurants and has a curated list of the best business caterers for 22,743 cities and towns nationwide. The company services small start-ups and Fortune 500 companies and recently announced that they have raised an additional $4 million to bolster the number of caterers on its platform and to reach more customers. ZipCar investor Jill Preotle, CheapFlights co-founder Chris Cuddy, LaunchPad, and private equity firm Breton Capital Management participated in the most recent round of funding.

ezCater is a marketplace that works with caterers and other food providers to enter their meal choices into the platform, which provides a standardized way of displaying menus. Despite being a high-touch proposition, the company has already over 30,000 caterers on the site, and plans to add another 20,000 this year.

ezCater focuses mostly on orders placed at least a day or two ahead of time, rather than those ordered on-demand. That can be for sales calls, client meetings, team meetings, or daily office lunches. This helps the company to create a relationship with a customer no matter where they are traveling to in the US or across corporate branches.  Over 1.8 million people have used the service and the platform is capable of handling orders anywhere from five to 2,000 people at a time. With an average order size of about $225, orders are significantly larger than most competitors.

The company was launched in 2007 and had a slow start, but has been growing rapidly over the past few years and they have tripled revenue growth over each of the last three years.

Total funding raised to date is $6.5 million.

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