Restaurant technology solution provider Deliverect raised €16.25 million (approximately $18 million) in its Series B funding round this week, led by OMERS Ventures, with existing investors Newion, Smartfin, and the company’s founders also participating. The company, which has a team of 50 people, will reportedly use the investment to support further product development, solidify its position in Europe and look into international expansion.
The Belgian startup, which also has offices in Ghent, London, Madrid, Toronto and New York, has already made a splash with its online food delivery management software. Deliverect has been steadily expanding around the world, signing up not only restaurants, but big chains, enterprises and other food businesses.
Its subscription-based service integrates third-party online ordering platforms like Uber Eats, Deliveroo, Glovo, and Doordash into restaurants’ point-of-sale systems, automating the inbound online order flow through a single point.
The solution eliminates the requirement for restaurant staff to monitor multiple devices and manually re-enter orders into their existing system, reducing both staff workload and the probability of errors.
Deliverect is also used by so-called virtual or ghost kitchens. These are essentially delivery-only restaurants where, assuming good food is standard, efficiency is paramount and technology plays a critical role in helping to build up brand loyalty with customers. With the number of virtual kitchens on the rise and an increasing number of food retailers entering the delivery marketplace, Deliverect aims to become the global gateway for online food ordering and delivery.
With the provision of online restaurant delivery at its core, in order to address the impact of COVID-19, Deliverect is well-positioned to help restaurants rapidly pivot to online ordering following the closure of restaurant dine-in services.
The company has waived all set-up fees for its solution and launched new monthly – instead of annual – subscription plans which can be cancelled at any time. Deliverect has also waived set-up fees for its Click & Collect online ordering module, and is not charging anything for the first six weeks of use.
Founded in 2018, Deliverect has reportedly processed more than 3.5 million orders since its inception, with UK customers including Absurd Bird, You Me Sushi, Taqueria, and Crêpeaffaire. In addition, the company works with Unilever, which through Deliverect is able to integrate with Deliveroo and Uber Eats and deliver Ben & Jerry’s and Magnum ice creams directly to customers.
The platform streamlines essential restaurant operations by providing a single interface for online orders, with consolidated reporting and inventory management. It also simplifies the outbound flow of information, meaning menu uploads and updates only need to be made once and then shared with multiple delivery services.