Kitchen United has announced a $100m Series C fundraise involving some some of the world’s pre-eminent financial and strategic investors.
New investors include Alimentation Couche-Tard / Circle K, The Kroger Co., Restaurant Brands International, B. Riley Venture Capital, a subsidiary of B. Riley Financial, Simon Property Group, Phillips Edison & Co, and The HAVI Group.
Additionally, the round saw strong participation from all existing institutional and strategic investors, such as GV, various funds managed by Fidelity Investments Canada ULC, RXR, DivcoWest, Cali Group, GoldenArc Capital, General Global Capital, and Rich Product Corporation.
Kitchen United founders, Harry Tsao and John Miller, CEO, Michael Montagano, and two-time NFL Super Bowl MVP Peyton Manning also made “significant” investments in the round.
The company’s total raise to date has now reached approximately $175m.
“This Series C financing further solidifies Kitchen United’s leadership position in the industry,” said Montagano.
“Kitchen United uniquely sits at the intersection of technology, food, and real estate. Our solution serves as the technological and physical infrastructure revolutionizing centrally located distribution hubs through streamlining off-premises ordering and consumption.
“To that end, we are thrilled to partner with leading investors across grocery, convenience, restaurants, malls, packaging, logistics, distribution, automation, and urban and suburban real estate development,” said Montagano.
Kitchen United currently has approximately 200 operational kitchens across 20 regions, powered by its industry-leading proprietary technology, with plans to significantly increase its technological and physical footprint in the near term.
The company has seen triple-digit top-line growth for three consecutive years, all supported by industry-leading metrics.
Kitchen United’s proprietary technology enables customers to order from multiple-prepared food and consumer goods brands on the same ticket and with the same delivery driver, all synchronized to maximize quality and payload, and minimize time and expense.
Kitchen United will continue its focus on Los Angeles, New York City, Chicago, and Texas as key markets with continued expansion throughout other US trade areas.
Additionally, Kitchen United will be further evolving its industry-leading multi-concept ordering technology platform Kitchen United OS, for use by customers including Burger King, Popeyes, Chick-Fil-A., Portillo’s, Panera Bread, Dog Haus, Wingstop, and Brinker International.