- Los Angeles-based food pre-ordering service Allset announced it has raised $8.25 million in Series B funding led by EBRD
Los Angeles-based food pre-ordering service Allset announced it has raised $8.25 million in Series B funding led by EBRD with participation from existing investors Andreessen Horowitz, Greycroft, SMRK VC Fund as well as new investor Inovo Venture Partners. Including this round of funding, it brings Allset’s total investment to $16.6 million.
Allset provides a dedicated support budget to help local restaurants weather the COVID-19 crisis. And the initiatives include a daily $4 discount to customers for all pickup orders placed via Allset and a waived service fee for all existing restaurant partners that provide the contactless pickup option at their stores.
The new option enables customers to pick up online orders in dedicated contactless pickup areas at stores thus removing the need for direct contact for both parties.
And Allset helps busy diners get a quick bite at restaurants and food spots in the busiest districts. Plus it ensures food will be ready for the requested time and diners can leave without waiting for a bill, resulting in a faster and more seamless dine-in or pickup service.
The redesign includes features like personalized restaurant and food recommendations based on customer’s ordering history, dietary preferences, searches, etc. to make it easier for diners to find more relevant food options nearby. And it also has an Improved Healthy Category with the best and healthiest foods just a tap away. Plus it has Extended Allset Specials, which are exclusive menu offerings made in partnership with restaurants and carrying a discount to make everyday dining more affordable to diners. There are also hand-curated menus with simplified item descriptions and highly customizable meal options and add-ons to better complement the main choice.
Launched in 2015, Allset is currently available at over 2,500 restaurants in 11 biggest U.S. cities: New York, Los Angeles, San Francisco and The Bay Area, Chicago, Houston, Boston, Seattle, Austin, San Jose, Las Vegas, and Miami.
The company’s popular restaurant partners include Buffalo Wild Wings, Subway, illy Caffè, Bareburger, Schnippers, Pokéworks, Freshii, The Bean, by Chloe., and a number of others.
Key Quotes:
“Today we are actively working to ensure the safety of customers and supporting the local businesses. The new funding will enable us to help the communities we serve during this challenging time and to meet the growing demand for online takeout orders, making it easy for people to support restaurants they love.”
-Allset CEO Stas Matviyenko
“Food pre-ordering space is growing very fast, with only a few startups focusing on the pickup model. The Allset team is building a great product and their effective execution yields strong unit economics with sustainable growth. We’re excited to partner with them in their next phase, as well as proud to support their efforts in serving local businesses and customers during this unprecedented time for the restaurant industry.”
-Maria Barsuk, Venture Capital Investment Programme at EBRD
“The proof of network effects in such competitive markets and the fact that the company has a playbook on how to scale it further, as well as the team with excellent execution and operational skills, were the key factors underpinning our decision to invest in Allset. We are very impressed with Stas and Anna, the founders of the startup, and look forward to partnering with Allset to further accelerate their progress.”
-Michał Rokosz, Partner at Inovo Venture Partners.
