EzCater

Last updated
ezCater
Industry Catering
Founded2011
Headquarters Boston, Massachusetts [1]
Website www.ezcater.com

ezCater is a Boston-based company that connects businesses with restaurants and caterers through an online marketplace. It was co-founded by Stefania Mallett, CEO, and Briscoe Rodgers, Chief Strategy Officer, in 2007. [2] [3] [4] [5]

Contents

Method

With its online platform, ezCater connects corporate catering orderers and sales representatives with nearby restaurants and caterers. [6] [7] [3]

It allows companies to review menus from restaurants and then place an order for meetings or company events. [7] [8] Restaurants are required to have the appropriate catering menus and web presence to join the platform. [9] [6] [10] ezCater has over 75,000 restaurants and caterers signed up on its platform [11] [12] and its catering management software helps caterers manage orders and deliveries. [13] [14]

The website also stores receipts and order histories, and gives companies the ability to let others order food for clients and events with set maximum amounts and tipping policies. [7] [15] Once an order is placed, ezCater tracks it to be sure there are no issues. [13]

History

In 2011, Mallett and Rodgers raised $2.7 million in Series A investment. [2] Seven years later, in 2018, the company raised $100 million. [3] That funding round was led by Wellington Management Company, with existing investors such as ICONIQ Capital and Insight Venture Partners participating as well. [13] [6] This brought ezCater’s total funding to $170 million with a valuation of $700 million. [6] [13]

In 2017, ezCater partnered with JLL to provide meals to Feeding America. [16] [17] [18] They've provided over a million meals to date. [19]

In 2019, ezCater acquired Monkey Group, a cloud platform for take-out, delivery, and catering. [2] [20] That same year, a $150 million Series D-1 funding round saw ezCater reach a $1.25 billion valuation. [2] [9]

In April 2020, as the coronavirus pandemic shuttered corporate offices across the country, ezCater was forced to lay off over 400 staff across its Boston, Denver, Paris, and Vancouver offices. [21]

During the pandemic in 2020, ezCater launched its app and website, Relish by ezCater, which allows workers to place food orders from local restaurants. [22] [23] [24] The individually-packaged meals arrive in a designated space at a designated time to cut down on the number of delivery people entering a business. [25] [22]

In December 2020, ezCater partnered with Subway to offer a new online catering platform. [26] [27]

In July 2021, ezCater launched its first-ever TV commercials, advocating for food as an incentive to motivate remote workers to return to the on-site office environment after the pandemic. [28] [29]

In December 2021, ezCater announced a successful $100M Series D-2 funding round led by SoftBank, raising the company's post-money valuation to $1.6 billion. [30] [31] [32]

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References

  1. ↑ Logan, Tim. "Another cool new office, this one for business catering company ezCater". Boston Globe. Retrieved 7 December 2020.
  2. 1 2 3 4 "Online catering marketplace ezCater gets another $150M at a $1.25B valuation". TechCrunch . Retrieved 2020-12-02.
  3. 1 2 3 Roof, Katie (2018-06-19). "EzCater Raises $100 Million for Catering". Wall Street Journal . ISSN   0099-9660 . Retrieved 2020-12-02.
  4. ↑ Lagorio-Chafkin, Christine (2019-07-30). "EzCater Launched With an Idea for Feeding Hungry Doctors. Now It's a Billion-Dollar Catering Business". Inc. Retrieved 2020-12-07.
  5. ↑ Helm, Burt (2020-10-13). "Stefania Mallet's ezCater Has a System for Everything When It Comes to Feeding a Crowd". Inc. Retrieved 2021-02-04.
  6. 1 2 3 4 "ezCater raises $100M as it looks to own office-catered meals around the world". TechCrunch. Retrieved 2020-12-02.
  7. 1 2 3 "ezCater acquires GoCater to expand beyond the US". TechCrunch. Retrieved 2020-12-02.
  8. ↑ "Food Tech News: New Growth Medium for Cultured Meat, Pepsi's Plastic-Free Promise". The Spoon. 2020-12-05. Retrieved 2020-12-07.
  9. 1 2 "Corporate catering marketplace Ezcater raises $150 million at $1.25 billion valuation". VentureBeat. 2019-04-02. Retrieved 2020-12-02.
  10. ↑ "Subway works with ezCater to build business with businesses". www.qsrweb.com. 2020-12-04. Retrieved 2020-12-07.
  11. ↑ "Could ezCater, the Expedia of Business Catering, be the Next Billion Dollar Company?". VentureFizz. 2014-11-09. Retrieved 2020-12-02.
  12. ↑ "ezCater". Angel.
  13. 1 2 3 4 "Boston's ezCater raises $100 million to take its corporate catering platform international". VentureBeat. 2018-06-19. Retrieved 2020-12-02.
  14. ↑ PYMNTS (2019-04-02). "ezCater Raises $150M To Scale Business Catering". PYMNTS.com. Retrieved 2020-12-02.
  15. ↑ "Red Lobster Joins Catering Platform". Hospitality Technology. Retrieved 2020-12-07.
  16. ↑ "Meet The Mom And Economist Who's Fed 100,000 Children (And Counting)│Professional WOMAN's Magazine". Professional Woman’s Magazine | The Working Woman’s Magazine. 2017-11-22. Retrieved 2020-12-07.
  17. ↑ "Corporate catering initiative has contributed 100,000+ meals to children in need". High-Profile Monthly. 2017-11-20. Retrieved 2020-12-07.
  18. ↑ "Landlords See Enhanced Food Options as Ingredient for Office Rebound". Commercial Observer. 19 January 2021. Retrieved 2021-02-01.
  19. ↑ "JLL reaches milestone of providing over 1 million meals* to Feeding America®". www.us.jll.com. 2020-09-17. Retrieved 2020-12-07.
  20. ↑ Lalley, Heather (April 2, 2019). "ezCater raises $150M to fuel catering growth". Restaurant Business. Retrieved 2020-12-02.
  21. ↑ "ezCater lays off more than 400". Boston Business Journal.
  22. 1 2 Kathryn Vasel (13 July 2020). "Food is a big deal at work. Here's how the pandemic will change lunch and snacks". CNN. Retrieved 2020-12-02.
  23. ↑ "ezCater Branches into Solo Workplace Meals". Food On Demand. 2020-06-25. Retrieved 2021-01-27.
  24. ↑ "ezCater Lauches Relish to Reimagine Corporate Lunches". The Spoon. 2020-06-19. Retrieved 2021-01-27.
  25. ↑ "Online catering marketplace debuts COVID-smart service". www.fastcasual.com. 2020-06-19. Retrieved 2020-12-02.
  26. ↑ Kaiser, Tom (2020-12-10). "Subway Inks Partnership with ezCater". Food On Demand. Retrieved 2021-02-01.
  27. ↑ "Subway Taps ezCater for Online Catering Roll Out". QSR magazine. 3 December 2020. Retrieved 2021-01-27.
  28. ↑ "On the rebound, ezCater touts power of food to entice workers back". Boston Business Journal. Retrieved 2021-07-27.
  29. ↑ "What will make you go back to the office? Boston catering firm ezCater says free food, not water slides". Boston Globe. Retrieved 2021-07-26.
  30. ↑ "SoftBank to Back EzCater at $1.6 Billion Value in Funding Round". Bloomberg. 15 December 2021. Retrieved 2021-12-15.
  31. ↑ "VC Daily: EzCater Adapts to Future of Work". WSJ. Retrieved 2021-12-15.
  32. ↑ "After Mega-Investment, ezCater Shifts Strategy, Plans IPO". Food On Demand. 13 January 2022. Retrieved 2022-01-14.
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