Insight Venture Partners Leads Series C Round Supporting the Dominant Player in the Rapidly Growing $19.6 Billion Business Catering Market
BOSTON, Mass. – October 6, 2015 – ezCater, the only nationwide marketplace for business catering, today announced that it has closed a $28 million Series C round of venture funding led by Insight Venture Partners with participation from existing investors. The round, which brings ezCater’s total funding to $35 million, will help the company scale to meet increasing demand from businesses of all sizes across the U.S., while accelerating the development of new features and functionality for its business catering marketplace.
ezCater, with more than 43,000 caterer and restaurant partners, helps business people easily find and order food online for meetings or events in every city and town in the United States. Today’s funding strengthens ezCater’s leadership position to further capitalize on the massive market for business catering – a market worth $19.6 billion in the U.S., according to the foodservice research firm Technomic.
“What makes ezCater unique comes down to three things – guaranteed reliability, nationwide coverage, and 5-star service,” said Stefania Mallett, co-founder and CEO of ezCater. “Our caterers are rated for on-time delivery and accuracy, so you can be confident you won’t be embarrassed waiting for food at your meeting. We have caterers everywhere, and you can call if you don’t see what you want online. If anything comes up with an order, a call, email or text to our customer service ninjas is all it takes. We’ll handle it while you get back to business. Those are the reasons we’ve been growing exponentially. With the new funding, we’ll grow even faster.”
ezCater’s customers include organizations of all sizes, in all industries – from Fortune 500 companies to local startups, in markets as diverse as construction, finance, and pharmaceuticals. Business people use ezCater to place orders 24 hours a day and up to 365 days in advance of any sales call, training, or other business meeting or event. They have access to nearly 300,000 reviews and on-time delivery ratings to help guide their choices. ezCater’s 5-star-rated customer service team provides users a backstop in case they need any assistance at all.
ezCater also appeals to finance, accounting, and procurement groups in larger organizations by offering enterprise-class visibility and controls. Companies with a large salesforce or offices nationwide can centralize payment and gain deeper insights into their spending on food for meetings. In addition, individual users can connect ezCater to their expense reporting system to centralize e-receipts and make expense management easier.
“Food is becoming an increasingly important part of business culture. In many industries, it’s harder and harder to drag decision-makers out to lunch; it’s easier to get them to listen to you for a few minutes if you feed them and their team. In addition, there’s a crop of younger workers who expect to be fed in the office,” said Jeff Lieberman, managing director at Insight Venture Partners. “ezCater is in a unique position to capitalize on these social trends and the expectations of the on-demand economy. They’re the only player that can address the entire $19.6 billion market for business catering in the U.S., and this funding will help them extend an already impressive service.”
ezCater is the only nationwide marketplace for business catering. ezCater’s online ordering, on-time ratings and reviews, and 5-star customer service connect businesspeople to reliable catering for any meeting, anywhere in the United States. For more information or to place an order, visit www.ezcater.com.
fama PR for ezCater