EatStreet raises $16 million investment led by Prime Ventures
MADISON, Wis. – Announced today, EatStreet raises $16 million investment led by Prime Ventures, the Amsterdam-based venture capital and growth equity firm backing European food delivery company Takeaway.com. The additional investment also includes current investor, MATH Venture Partners, and a $5 million debt facility from The PrivateBank.
EatStreet’s consistent growth in Tier 2 U.S. markets has attracted investors like Prime Ventures, EatStreet leaders said. “Prime Ventures’ decision to support EatStreet speaks volumes, and it’s a testament to our approach within an industry where others are fighting to find their way,” said Matt Howard, CEO of EatStreet. “We are extremely excited to work closely with the Prime Ventures team, given their deep experience and success in the industry.”
The latest round brings EatStreet’s total invested capital to over $40 million since the online food ordering company’s inception nearly seven years ago. It also positions EatStreet, the largest independent online and mobile food ordering service, to continue its strategic execution throughout more than 250 U.S. cities.
The investment announcement comes on the heels of a well-received initial public offering from international online food ordering company, Takeaway.com with a marketcap of $1.2 Billion. Prime Ventures has invested 43 million euro into Netherlands-based Takeaway.com and helped spur the company to its position as continental Europe’s leader in online food ordering.
“EatStreet’s track record speaks for itself. They’ve continued to grow in a strategic and innovative fashion that’s positioning them to succeed in an industry that has tremendous potential,” said Joost Holleman, a partner with Prime Ventures. “We understand the online food delivery market, and we see that magical combination of business acumen, technology and foresight at EatStreet.”Since its launch in 2010, EatStreet has grown from its three founders to over 150 employees serving millions of customers and more than 15,000 restaurants. Most recently, EatStreet expanded its headquarters into a new Madison office and was named among “Madison’s Best Places to Work” by Madison Magazine.
Over Prime Venture’s 17 years, it has invested in more than 50 technology-driven companies across Europe and their offices in The Netherlands and UK manage about a half-billion euro in committed capital.
About EatStreet EatStreet is the largest independent online and mobile food ordering service in the U.S., offering 15,000 restaurants in more than 250 cities through its easy-to-use app and website. For hungry diners nationwide, EatStreet is the most convenient way to order delivery and takeout. With 24/7 customer support, the company ensures every order is fast, convenient and correct. Founded in 2010, EatStreet is headquartered in Madison, Wisconsin, which is home to its team of 150-plus staff. For more information, visit eatstreet.com/press