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February 20, 2019

Spoonfed to expand US presence with investment from Equity Gap

Catering management software company Spoonfed is set to expand its presence in the US with £575,000 of development funding from Equity Gap. 

Catering management software company Spoonfed is set to expand its presence in the US with £575,000 of development funding from Equity Gap.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
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The company has plans to increase its team from 11 to 20 employees by the end of this year, and add software engineers to its new headquarters in Glasgow.

It will also increase its customer support staff in the US, as well as expand its presence to Denver by adding a new base.

Spoonfed co-founder and managing director Willie Biggart said: “2018 was a great year for Spoonfed, with monthly revenues increasing by more than 140%. An increase of 300% in set-up fees in the final quarter of 2018 indicates that this growth will accelerate in 2019.

“An increase of 300% in set-up fees in the final quarter of 2018 indicates that this growth will accelerate in 2019.”

“Our customers recognise Spoonfed as a great product, on average Spoonfed customers saw their revenue grow by 27% last year.

“Our major focus this year will be on the US market. 2018 was the first year that our US revenues matched and exceeded those in the UK. This new funding will help us make further roads into a market that’s eight times larger than the UK.”

Headquartered in the UK, Spoonfed offers ordering system using a software-as-a-service (SaaS) platform to contract catering firms and restaurants that offer services to businesses, universities, hospitals and other institutions.

The company has a presence in the UK, Canada, Ireland, Holland, Belgium, France, and Australia. It offers services to various contract caterers, including Elior, Aramark, CH&Co, and BaxterStorey.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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