How Much Did Goldbelly Raise? Funding & Key Investors

Goldbelly has successfully raised funding over seven rounds, with the latest being a Series C round led by Spectrum Equity and Intel Capital. The platform specializes in delivering gourmet food and food gifts nationwide, featuring meals, desserts, and regional specialties from renowned restaurants and local gems.

Keep reading to explore the intricacies of Goldbelly's fundraising journey and the investors backing this innovative platform.

What Is Goldbelly?

Goldbelly is a prominent player in the gourmet food delivery industry, connecting specialty food makers and artisans with customers nationwide. Based in New York, New York, the company operates in the delivery service, e-commerce, food and beverage, and last-mile transportation sectors.

Founded by a team of passionate food enthusiasts, Goldbelly has grown to employ between 101-250 people. The platform offers a wide range of food items, including meals, desserts, and regional specialties, collaborating with renowned chefs and iconic restaurants to provide exclusive dishes and meal kits.

How Much Funding Has Goldbelly Raised?

1. Pre-Seed Round
   • Amount Raised: USD 120,000
   • Date: March 2013
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the platform and develop initial technology.
2. Seed Round
   • Amount Raised: USD 3,000,000
   • Date: September 2013
   • Lead Investors: Intel Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
3. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: January 2014
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To continue scaling operations and market reach.
4. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: August 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further develop the platform and onboard more partners.
5. Series A Round
   • Amount Raised: USD 10,000,000
   • Date: March 2017
   • Lead Investors: Global Founders Capital, Intel Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the business and enhance technological infrastructure.
6. Series B Round
   • Amount Raised: USD 20,000,000
   • Date: October 2018
   • Lead Investors: Enlightened Hospitality Investments
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand market presence and onboard new partners.
7. Series C Round
   • Amount Raised: USD 100,000,000
   • Date: May 2021
   • Lead Investors: Spectrum Equity
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale technology and operations, onboard new partners, and launch new content initiatives.

Goldbelly has raised a total of USD 133,120,000. The current valuation is Not publicly disclosed.

Key Investors

• Spectrum Equity
  • Details: Spectrum Equity is a private equity firm that invests in growth companies. They focus on internet-enabled software and information services companies.
  • Investment Focus Areas: Internet-enabled software, information services companies, growth companies.
  • Notable Investments: Ancestry.com, Grubhub, SurveyMonkey.
• Enlightened Hospitality Investments
  • Details: Enlightened Hospitality Investments is an investment firm that focuses on hospitality and food-related businesses. They aim to support companies that enhance the hospitality experience.
  • Investment Focus Areas: Hospitality, food-related businesses.
  • Notable Investments: Shake Shack, Resy, Goldbelly.
• Global Founders Capital
  • Details: Global Founders Capital is a global venture capital firm that invests in technology companies. They support companies across various stages of growth.
  • Investment Focus Areas: Technology companies, various stages of growth.
  • Notable Investments: Facebook, LinkedIn, Slack.
• Intel Capital
  • Details: Intel Capital is the investment arm of Intel Corporation, focusing on technology startups. They invest in companies that align with Intel's strategic interests.
  • Investment Focus Areas: Technology startups, artificial intelligence, autonomous vehicles, data center and cloud, 5G technology.
  • Notable Investments: Cloudera, DocuSign, Vuzix.

What's Next for Goldbelly?

Goldbelly is poised to capitalize on significant opportunities by scaling its technology and operations, accelerating the onboarding of new chef and restaurant partners, and launching new content initiatives. With $100 million raised in its Series C funding, the company has substantial resources to pursue these goals.

Future fundraising opportunities seem promising, given the successful Series C round and the involvement of prominent investors like Spectrum Equity and Intel Capital. This financial backing positions Goldbelly well for potential future rounds to further expand its operations and market reach.

However, challenges lie ahead, including scaling operations while maintaining quality and customer satisfaction, and managing the logistics of delivering perishable goods nationwide. Competition from other food e-commerce and delivery platforms also remains a significant hurdle.

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