Corporate catering startup Sharebite announced today that it has raised a $15 million Series A round of funding. The round was led by Lafayette Square led this round with participation from Essential Capital, Liberty City Ventures, Percy Capital, Reign Ventures, River Park Ventures, London Technology Club and the founders and former executives of Seamless (now part of Grubhub) and Delivery Hero.
On the surface, New York City-based Sharebite is similar to most other corporate catering services. The company’s online platform allows its corporate customers to provide delivered meals to their employees from various restaurants in its service areas (Chicago, San Francisco, Oakland, Austin, Charlotte, Irvine, and Washington, DC.). Sharebite’s clients can set up parameters like which meals will be delivered and how much of a subsidy per employee is provided.
But what makes Sharebite different from other corporate catering services is its get-and-give approach. For every meal ordered through its service, Sharebite makes a donation to City Harvest to alleviate childhood hunger. As Sharebite Co-Founder and CEO, Dilip Rao explained to me last year, the company gets paid a commission by its restaurants, and a portion of that commission is donated to a local charity.
In its press announcement, Sharebite says that it works with more than 3,000 restaurants and its corporate client list includes WeWork, Coinbase, Better.com, McKinsey and Horizon Media with “hundreds” of companies nationwide in its pipeline.
Sharebite’s fundraise comes at an interesting moment for the entire corporate catering sector. With vaccinations rolling out, companies (and employees) are beginning to determine their office return policies. As companies look to balance productivity, employee interaction and safety, paid office lunches could be a perk that helps ease employees back to their office desk. Or, with fewer people in the office, it could be a nice-to-have that is no longer needed.