Goldbelly Secures $ 100 Million Investment

Photo courtesy of Goldbelly

Restaurant e-commerce platform Goldbelly has received $ 100 million in investment funding to fuel its growth, the company said on Monday.

New York-based Goldbelly also announced two C-suite hires: Cristina Miller becomes the company’s COO after seven years as business director of the 1st Dibs design platform. And Ranjith Roy becomes Goldbelly’s CFO after 15 years at Goldman Sachs.

Goldbelly, which sells food from 850 different restaurants on its platform, said it would “build an omnichannel future for the restaurant industry,” according to a statement.

The $ 100 million investment round was led by private equity firm Spectrum Equity, with participation from existing investor Intel Capital.

Goldbelly received $ 20 million in funding in 2018 from Enlightened Hospitality Investments, the group led by restaurateur Danny Meyer. At that time, the platform had 350 partner restaurants.

Goldbelly was founded in 2013 and now has 850 participating restaurants on its platform. It allows chefs such as Thomas Keller, Stephanie Izard and David Chang to sell and ship their signature dishes across the country.

“As pioneers in the food e-commerce world, this investment allows us to continue to redefine the ways consumers can interact with the foods and restaurants they love in their homes,” said Joe Ariel, Founder and CEO of Goldbelly in a press release.

Goldbelly has seen significant growth during the pandemic. The company added more than one million new customers in 2020 and has seen its overall business grow by more than 300% year on year, he said.

It will use this latest investment to evolve its technology and operations, accelerate the onboarding of new chefs and restaurants, and launch new content initiatives. Goldbelly recently launched a virtual side dish cooking series.

“The foodservice tech space has seen tremendous innovations over the past decade, but Goldbelly is the first company to provide restaurants with the ability to transform what has always been a hyper-local business model into a model for restaurants. national reach, ”Pete Jensen, managing director at Spectrum Equity, said in a statement. “Goldbelly makes it easier for restaurants to access e-commerce, opening up new markets previously inaccessible, and allows consumers to discover the most iconic food manufacturers and the best regional cuisines, no matter where they live. We are excited to work with Joe to help the company and its restaurant partners realize the enormous potential of this opportunity in food e-commerce. “

This story has been updated to correct the spelling of Cristina Miller’s name.


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