Meal Delivery Platform Munchery Cooks Up $28M Series B
April 14, 2014
Munchery, a meal delivery service, has raised $28 million in a Series B funding round led by Sherpa Ventures, with participation from existing backers e.ventures and Menlo Ventures. The company doesn't deliver food that other restaurants make (as GrubHub does), and it doesn't deliver ingredients for people to cook for themselves (as companies like Blue Apron and Plated do); it delivers meals that its own chefs in its own kitchen make. The food gets delivered cold and users just have to heat it up and enjoy the meal. Users pay about $8 to $12 per entree and can even get meals delivered the same day an order is placed.
The new capital brings the company's total funding to about $32 million, including a 2013 $4 million Series A investment. Munchery, which currently only operates in San Francisco, will partly use the funds to expand into Seattle, where construction of a new kitchen is already under way. It reportedly expects to be operational in The Emerald City by the end of this summer. In conjunction with the financing, Shervin Pishevar of Sherpa Ventures will join Munchery's Board.