Technology

Backed by prominent restaurateurs, Lunchbox raises $20M

The online ordering company's latest fundraise features celebrity chef Tom Colicchio and Planet Hollywood founder Robert Earl.
Lunchbox fundraising
Photograph courtesy of Lunchbox

Online ordering company Lunchbox has raised $20 million in a Series A funding round, the company said Wednesday.

It is the latest online ordering company to land major venture capital funding, joining Ordermark, Popmenu and GoTab among providers that have announced investments recently.

The round was led by tech-focused investor Coatue and included other prominent industry names such as celebrity chef Tom Colicchio, HelloFresh founder Bryan Ciambella and Planet Hollywood founder Robert Earl. 

Online ordering has become table stakes during the pandemic, with dining rooms closed or limited. New York-based Lunchbox has been one of the most active providers since it launched in May 2019, offering an “all-in-one” platform that includes website, app and kiosk ordering, cloud kitchens and marketing. It is notable for its explicit mission to help restaurants cut out third-party delivery companies.

Restaurant clients include Bareburger, Clean Juice and Fuku, David Chang’s fried chicken concept. Lunchbox said restaurants that use it have seen an average sales increase of 30%. 

“Our mission is to help restaurants survive this pandemic and thrive beyond it. When we started Lunchbox 18 months ago, we wanted to help restaurants with a strong ethos and identity speak to their guests directly. That is more important now more than ever before,” said Nabeel Alamgir, CEO and co-founder of Lunchbox, in a statement.

The company said it would use the funds to grow nationally, hire talent and continue to develop its product.

Members help make our journalism possible. Become a Restaurant Business member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Workforce

Restaurants have a hot opportunity to improve their reputation as employers

Reality Check: New mandates for protecting workers from dangerous on-the-job heat are about to be dropped on restaurants and other employers. The industry could greatly help its labor plight by acting first.

Financing

Some McDonald's customers are doubling up on the discounts

The Bottom Line: In some markets, customers can get the fast-food chain's $5 value meal for $4. The situation illustrates a key rule in the restaurant business: Customers are savvy and will find loopholes.

Financing

Ignore the Red Lobster problem. Sale-leasebacks are not all that bad

The decade-old sale-leaseback at the seafood chain has raised questions about the practice. But experts say it remains a legitimate financing option for operators when done correctly.

Trending

More from our partners