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May 2, 2018

ZeroCater secures $12m in Series B funding for expansion

US-based catering and snacks provider ZeroCater has secured $12m in funding to support the expansion of its operations and goal to become the single food provider for all companies.

US-based catering and snacks provider ZeroCater has secured $12m in funding to support the expansion of its operations and goal to become the single food provider for all companies.

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As part of the investment, the company plans to expand its office snacks and catering services to new markets across the US. Last year, the company launched its office snacks product.

Before this funding, the company reached more than $250m in sales with $5.6m in outside capital.

ZeroCater founder and CEO Arram Sabeti said: “Our investment in technology enables us to execute flawlessly through data-driven operations, give companies real-time visibility into their office food programmes, and gain insight from every customer to give them the food they love.”

“We’re confident in our investment in ZeroCater because of its emerging leadership in technology, food innovation and customer service.”

The catering services company leverages technology across its operations to control food experience by connecting with customers.

ZeroCater receives customer feedback for every meal delivered through dashboards, emails and physical terminals located at its client site.

Cleveland Avenue founder and CEO Don Thompson said: “As we continue to expand our Cleveland Avenue portfolio, we’re confident in our investment in ZeroCater because of its emerging leadership in technology, food innovation and customer service.”

The funding was led by Cleveland Avenue, a private equity and venture capital firm, with participation from Romulus Capital and Struck Capital.

ZeroCater has appointed Atrium CEO Justin Kan, Cleveland Avenue managing director Skyler Fernandes and Romulus Capital founder Krishna Gupta as new members to its board.

Free Report
img

What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
Enter your details here to receive your free Report.

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