Delivery platform Chowbus today announced a $33 million Series A funding round. The round was led by The round was led by Silicon Valley-based Altos Ventures and NYC-based Left Lane Capital, with participation from Hyde Park Angels, Fika Ventures, FJ Labs and Silicon Valley Bank. This brings total funding for Chowbus to $38.1 million.
Chowbus’ claim to fame is connecting customers with authentic Asian food from independent restaurants that might not normally be found on the major third-party delivery aggregators. Underscore that word “authentic,” because the company takes the quality of its restaurants very seriously: restaurants must pass a blind taste test for before they are allowed to join the platform. The company offers meals via standard delivery as well as through its Lunch Shuttle, which bundles multiple orders together and delivers them to a central drop-off point Monday through Friday.
The last year has been a big one in terms of growth for the company, which was founded in 2016. At the start of 2019, the company raised $4 million to build out its technology and marketing. According to today’s press release, Chowbus has increased its revenue 700 percent and grown its employee headcount 300 percent.
Chowbus will use the new funds to grow its existing business, launch in new cities, and expand its product line to offer services outside of delivery. For example, it recently released a dine-in feature to its platform that lets restaurant-goers order and pay from their phones while eating at the restaurant.
Right now, Chowbus is available in roughly 20 cities around North America, including New York, Boston, Seattle, Atlanta, the San Francisco Bay Area, and Chicago.
Leave a Reply