Total amount raised
$72.6 Millions
Latest funding date
5/1/2019
Location
ChowNow has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform offers a commission-free online ordering system tailored for independent restaurants.
Continue reading to delve into the details of ChowNow's funding journey and the investors who support this innovative platform.
What Is ChowNow?
ChowNow, founded in 2010 by Christopher Webb and Eric Jaffe, is headquartered in Playa Vista, California. The company specializes in providing commission-free online ordering systems for independent restaurants.
ChowNow's platform allows restaurants to create branded online ordering systems through their own websites, Facebook, Google pages, and ChowNow-created apps. This approach helps restaurants avoid the high commissions typically charged by other ordering apps.
With a team of 251-500 employees, ChowNow also offers customer insights and marketing support, ensuring that local restaurants can grow and compete sustainably.
How Much Funding Has ChowNow Raised?
- Series A
- Amount Raised: $2.5M
- Date: September 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of the platform.
- Series A
- Amount Raised: $3M
- Date: January 2013
- Lead Investors: Upfront Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's features and increase market reach.
- Series A
- Amount Raised: $1.2M
- Date: June 2013
- Lead Investors: Upfront Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance the platform and support additional restaurant partners.
- Series A
- Amount Raised: $1M
- Date: February 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and improve customer support.
- Series B
- Amount Raised: $10M
- Date: March 2015
- Lead Investors: Upfront Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate growth in new markets.
- Venture Round
- Amount Raised: $5.4M
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and support more restaurants.
- Series B
- Amount Raised: $20M
- Date: October 2017
- Lead Investors: Catalyst Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase marketing efforts.
- Series C
- Amount Raised: $21M
- Date: May 2019
- Lead Investors: 3L Capital, Catalyst Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support local restaurants by providing tools for online ordering systems.
Total Amount Raised: $64.1M. Current Valuation: Not publicly disclosed.
Key Investors
- 3L Capital
- Details: 3L Capital is a private equity firm that invests in growth-stage companies. They focus on providing capital to businesses that are poised for significant expansion.
- Investment Focus Areas: Technology, consumer products, media.
- Notable Investments: ChowNow, The RealReal, GoPuff.
- Catalyst Investors
- Details: Catalyst Investors is a private equity firm specializing in growth equity investments. They target technology-enabled businesses that demonstrate strong growth potential.
- Investment Focus Areas: Software, internet, digital media.
- Notable Investments: ChowNow, Weave, PresenceLearning.
- Upfront Ventures
- Details: Upfront Ventures is a venture capital firm based in Los Angeles. They invest in early-stage technology companies and have a strong presence in the Southern California startup ecosystem.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: ChowNow, Ring, Bird.
What's Next for ChowNow?
ChowNow stands at the cusp of significant growth opportunities. With the online food ordering market booming, the company can expand its white-label platform to more independent restaurants, leveraging its unique monthly fee model. This approach not only attracts restaurants looking to avoid per-order commissions but also positions ChowNow to capitalize on the increasing consumer preference for online food ordering.
Future fundraising opportunities are likely as the competitive landscape intensifies. Additional funding could help ChowNow enhance its technology and expand its market reach. However, the company will need to navigate challenges such as intense competition from well-funded players like Uber Eats and Postmates, and the necessity to continuously innovate to stay ahead.
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