Catering management software company Spoonfed is set to expand its presence in the US with £575,000 of development funding from Equity Gap.
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.
“Our customers recognise Spoonfed as a great product, on average Spoonfed customers saw their revenue grow by 27% last year.
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“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.