Total amount raised
$30.1 Millions
Latest funding date
08/01/2020
Location
Seated has successfully raised funding through multiple rounds, attracting notable investors such as Rho Capital Partners and Insight Partners. The platform offers rewards for dining at over 2000 hand-picked local restaurants, encouraging users to support their local dining scene.
Keep reading to explore the intricacies of Seated's fundraising journey and the investors backing this innovative platform.
What Is Seated?
Seated, founded in 2017, is a technology company based in New York, New York. The company was established by Blaine Bolus, Bo Peabody, and Brice Gumpel. It operates within the food delivery, mobile apps, and restaurant industries.
With an employee count ranging between 51-100, Seated offers a unique app that rewards users for dining out, ordering pickup, or getting delivery from local restaurants. The platform supports over 2000 hand-picked restaurants, aiming to fill empty seats while providing members with rewards to top brands and unique experiences.
How Much Funding Has Seated Raised?
- Pre-Seed Round
- Amount Raised: $60K
- Date: January 2018
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the Seated platform and establish initial operations.
- Pre-Seed Round
- Amount Raised: $70K
- Date: October 2018
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the restaurant network.
- Venture Round
- Amount Raised: Not disclosed
- Date: January 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the app's features.
- Venture Round
- Amount Raised: $30M
- Date: August 2020
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To pivot the business model due to the COVID-19 pandemic, develop a food delivery system, and expand into the events business.
Total Amount Raised: $30.13M
Current Valuation: Not publicly disclosed
Key Investors
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They invest in growth-stage technology and software companies.
- Investment Focus Areas: Software, internet, data services
- Notable Investments: Twitter, Shopify, DocuSign
- Techstars
- Details: Techstars is a global platform for investment and innovation. They focus on early-stage startups across various industries.
- Investment Focus Areas: Early-stage startups, technology, innovation
- Notable Investments: SendGrid, Sphero, DigitalOcean
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that invests in early-stage and growth-stage companies. They have a particular focus on the technology sector.
- Investment Focus Areas: Technology, early-stage companies, growth-stage companies
- Notable Investments: SpaceX, Bird, Reddit
- Greycroft
- Details: Greycroft is a venture capital firm that focuses on investments in the internet and mobile markets. They invest in both early and growth-stage companies.
- Investment Focus Areas: Internet, mobile markets, consumer, enterprise, media
- Notable Investments: Venmo, Braintree, The RealReal
- Rho Capital Partners
- Details: Rho Capital Partners is a private equity and venture capital firm. They invest in various sectors, including technology, healthcare, and energy.
- Investment Focus Areas: Technology, healthcare, energy
- Notable Investments: Everyday Health, Catamaran, IntraLinks
What's Next for Seated?
Seated's future looks promising as it expands into the events business through its acquisition of VenueBook. This move opens up significant opportunities, providing access to 120,000 professional event planners and new markets like the New York tri-state area, Denver, and the San Francisco Bay Area. The company is also eyeing potential markets in Los Angeles and Texas, aiming to enhance its food delivery system and hire additional product engineers and sales personnel.
With these growth prospects, Seated may attract further investments to support its expansion and development plans. However, challenges such as the uncertainty of in-person events post-pandemic and competition in the food delivery and event booking markets could pose hurdles. Successfully integrating VenueBook's platform and team will be crucial for Seated's continued success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Seated and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
