Deliverect, a Belgian company that integrates orders from third-party services into restaurants' POS systems, has raised $65 million in a Series C funding round.
The rise in digital ordering amid the pandemic led to massive growth for the company over the past year. It is now processing an average of 1 million orders a week, an increase of 750% compared to April 2020.
The funding round featured new investors DST Global Partners and Redpoint Ventures along with existing investors and Deliverect's founders.
Deliverect was founded in 2018. Its software integrates digital orders from platforms like Uber Eats and DoorDash into a single device, eliminating the need for multiple tablets and for staff to manually enter orders. It has more than 10,000 clients worldwide, from large chains like Taco Bell to mom-and-pops, ghost kitchens and Unilever's ice cream delivery business.
The technology has led to faster turnarounds and fewer errors for KFC in Western Europe, said João Almeida, director of M&A and commercial finance for the chicken chain in that region.
"This partnership has allowed us to focus on serving the customer with the best chicken in the world, while we leave the technical aspects to the experts at Deliverect," he said in a statement.
Deliverect plans to use the funding to continue growing as more business shifts to digital channels.
"The explosive rise of online food delivery is forcing restaurants to change how they operate," said Elliot Geidt, managing director of Redpoint Ventures, in a statement. "[Deliverect CEO Zhong Xu] and the Deliverect team are building the tools and infrastructure to help restaurants thrive in a world where navigating online food delivery is a matter of success or failure."
Services like Deliverect's have seen growing interest from restaurants as online ordering becomes key. Last September, Arby's parent Inspire Brands invested in order integrator ItsaCheckmate and planned to add it to thousands of its restaurants.
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