US food pre-ordering service Allset has secured $8.25 million in a Series B funding round, as it aims to meet increased demand for online takeout orders amid the coronavirus pandemic.
The Series B round, which brings Allset’s total investment to $16.6 million, was led by investment bank EBRD with participation from existing investors Andreessen Horowitz, Greycroft, SMRK VC Fund, as well as new investor Inovo Venture Partners.
Founded in 2015, Allset is a food ordering platform that currently offers both dine-in and pickup services at over 2,500 restaurants in 11 US cities including New York, Los Angeles, Miami, Chicago, and Las Vegas.
Restaurant partners include Buffalo Wild Wings, Subway, illy Caffè, Pokéworks and Bareburger.
The app aims to connect local restaurants and diners in the busiest districts, ensuring food will be ready for a requested time and without the need to wait for a bill, resulting in a fast and seamless service.
Due to the current coronavirus pandemic, most restaurants have been forced to switch to online deliveries and Allset has launched a set of new initiatives to support these local restaurants.
Allset is currently offering a new option enabling customers to pick up their online orders in dedicated contactless pickup areas at stores, removing the need for direct contact for both parties.
“Today we are actively working to ensure the safety of customers and supporting the local businesses. The new funding will enable us to help the communities we serve during this challenging time and to meet the growing demand for online takeout orders, making it easy for people to support restaurants they love,” said Stas Matviyenko, CEO of Allset.
Matviyenko added: “Also, we’re happy to shed some light on what a new Allset app will look like. New features that are based on user insight and data will further enhance both the ordering and dining experiences with Allset, making it even easier for diners to eat out every day without spending much time.”
Maria Barsuk, venture capital investment programme at EBRD, said: “Food pre-ordering space is growing very fast, with only a few start-ups focusing on the pickup model. The Allset team is building a great product and their effective execution yields strong unit economics with sustainable growth.”
© FoodBev Media Ltd 2019