News

ezCater secures $150M in latest funding round

April 2, 2019

Online catering marketplace, ezCater, has raised  $150 million is a Series D-1 investment round co-led by Lightspeed Venture Partners and GIC, which will go toward the platform's worldwide expansion, a news release said. This round brings ezCater's total funding to $320 million.

"Most people don't realize that catering is much deeper than the traditional market definition," Lightspeed Venture Partners Partner Brad Twohig, said in the release. "ezCater is having a huge impact on the industry by moving catering online and driving substantial profitability for their partners. This is a mission we're excited to accelerate."

In the U.S., catering is a $60 billion-plus industry, which Technomic said is growing 50 percent faster than the overall restaurant industry. More than 60,000 restaurants and caterers use ezCater, the company's release said, including all levels of limited-service and pizza brands. In fact, ezCater said that 97 percent of Fortune 500 companies now use services from the company, which just last month acquired enterprise software, training and insights company, MonkeySoft Solutions. and less than a year ago acquired Paris-based online catering platform, GoCater. 

"We're the longtime market leaders and continue to have huge global ambitions," ezCater founder and CEO Stefania Mallett, said in the release. "This funding expands our ability to help our catering partners grow in a way that no one else can."

In addition to Lightspeed Venture Partners and GIC, this funding round included participation from Light Street Capital, existing investors Wellington Management Company LLP, ICONIQ Capital, Insight Partners, Quadrille Capital and others.