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.
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