Deliverect, a Ghent-based software maker that integrates online orders from food delivery channels into restaurants’ POS, has raised $150 million in a Series D found round led by Coatue and Alkeon Capital. The new funding will be invested in new engineering and technology offers, as the company aims to further broaden its offer, now stepping into the convenience and grocery store verticals. To date, Deliverect has raised a total of $236.8 million.
The Belgian SaaS product helps streamline all online orders for delivery, integrating third-party ordering platforms like Uber Eats, Deliveroo, Glovo, and Doordash into restaurants’ point-of-sale systems. Thanks to Deliverect, restaurant staff no longer need to monitor multiple devices or manually re-enter orders into the in-house system, ultimately saving time, and money.
Thanks to this automation, Deliverect’s value add is that food outlets can increase the number of orders and sales while driving down the staff workload. In the U.K., Deliverect client Chipotle is employing the company’s tech in 10 of its restaurants, and experienced a 66.3% increase in order volume, resulting in a 53% growth in revenue in the last year alone.
“As digitisation becomes more and more popular, we’ve seen how much not only restaurants but grocery and convenience stores need streamlined online ordering to meet customer satisfaction, especially among Millennials and Generation Z shoppers,” said Zhong Xu, Deliverect co-founder and CEO. “This funding will advance our efforts to serve everyone in the hospitality community through our App Store and beyond. We’re thrilled for Deliverect’s next phase as the leader in online order automation, especially as so many people prefer the convenience of ready-to-eat food delivery today.”
Since its founding in 2018, the Belgian firm has processed over 100 million orders, with 2021 accounting for one and half million orders per week, a figure up 300% from 2020.
In addition to Coatue and Alkeon Capital’s lead, Deliverect’s $150 million Series D round saw participation from new investor Redpoint Ventures, and existing investors Newion, Smartfin, OMERS Ventures, and DST Global Partners.