Things are uncertain in the world of buying and selling food to consumers — as preferences are realigning and opportunities segment wide are shifting. Some players, like Ghost Kitchen firm Ordermark are up, others, like Burger King, are coming back. But no matter which way the trend line points, everyone is looking moving forward to finding the right way to serve the digital dining consumer.
Things seem to be looking up for Burger King, whose parent firm Restaurant Brands International reported this week that it made more than 94 percent of prior-year system-wide sales in Q3, with more than 96 percent of restaurants open worldwide as of September.
“Despite our continued near-term focus on confronting the challenges presented by this global health crisis, we continue to make progress behind our long-term vision for the business, including modernizing our brands by leveraging the technology capabilities we’ve built in recent years,” CEO Jose Cil said in the announcement.
Ordermark, which provides online ordering solutions for restaurants, announced it has picked up $120 million in Series C Funding in a round led by Softbank. With the new funding, Ordermark plans to help more restaurants transition to online ordering amid the pandemic and for the future. The year “2020 has been a tough year for restaurants and that’s why we’re focused on providing products and services to help keep their doors open,” said Alex Canter, Ordermark CEO and co-founder, noted of the round.
Thrive Market’s New Series B Status
After basing its brand on environmentally friendly products and a sustainable business model for six years, the membership-based grocery Thrive Market has been officially designated as a B-corp. Nick Green, CEO of Thrive Market, told PYMNTS that he interprets the designation as a recognition that the company is looking out for the long-term interest of its members, employees, investors and suppliers, as well as the planet.
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