Belgium-based restaurant tech startup Deliverect announced today it has raised $65 million in Series C funding. The round was led by DST Global Partners and Redpoint Ventures, as well as existing investors OMERS Ventures, Newion and Smartfin. Deliverect’s founders also invested in the round. To date, Deliverect has raised a total of $86.8 million including this round.
The Deliverect platform manages orders from third party delivery services, funneling them into a single ticket stream that goes into a restaurant’s main POS system. This eliminates the need for a restaurant staffer to manually input these orders from the third-party delivery service’s tablet into the POS. That in turn saves time and can lessen the likelihood of order inaccuracy.
While this class of technology has been around for years now, the move towards more delivery and takeout orders, brought on by the pandemic, has made this type of software something of a must-have for businesses using multiple third-party providers (e.g., Uber Eats, Deliverroo, etc.).
Deliverect’s software services single restaurants, chains, and ghost kitchen operations. The company said today it will use the new funding for more R&D as well as to expand further. Right now, Deliverect’s software is in more than 10,000 restaurants around the world, including high-profile chains like Pret a Manger, Taco Bell, and Le Pain Quotidien.
Numerous other startups, including Ordermark, which raised $120 million last year, and Olo, which recently filed to go public, offer a similar product to restaurants. Which is to say that Deliverect will face its fair share of competition as it continues to expand.
The company raised €16.25 million (~$17.63 million USD) in Series B funding last year. It said today it has processed more than 30 million orders, and is now processing an average of 1 million orders per week.
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