MINNEAPOLIS – Foodsby Inc. raised $13.5 million in a Series B funding round led by Piper Jaffray Merchant Banking. Series A funding participants included Greycroft Partners, Corazon Capital LLC and Rally Ventures. The company has raised investments totaling $21 million.
Minneapolis-based Foodsby is a network of local restaurants and commercial properties that provide a food amenity for offices. The company, founded in 2012, currently serves 15 markets.
“It is the hard work and dedication of our team that has allowed us to achieve this important next step,” said Ben Cattoor, CEO of Foodsby. “We have established a successful model for new market entry with a tried and true combination of talent and technology. We look forward to building on our early successes and learnings to deliver continued growth for our investors and our team.”
Foodsby is a lunch delivery service that enables workers in office buildings to order lunch from local restaurants and have it delivered to their office. Orders are placed online and aggregated by Foodsby.com. Restaurants deliver all the meals at once. Executives at Foodsby said the additional funding will help Foodsby expand to 15-25 new markets while investing in the company’s sales, marketing and development teams.
“Foodsby caught our attention because of its differentiated model and exceptional value proposition, not only for consumers, but also for restaurants and building owners/tenants,” said Ted Christianson, managing director of Piper Jaffray Merchant Banking. “We are very excited to be partnering with the Foodsby team to help them continue their impressive growth.”