Table22, a provider of revenue-expanding e-commerce tools for merchants in America’s $1+ trillion food and beverage industry, announced an $11 million Series A funding round to expand its platform and customer network. This funding round was led by Lightspeed Venture Partners, with participation from institutional investors Footwork, Forerunner Ventures, and Alt Capital, and individual participants, including founders of and leaders from category-leading companies like Square, BentoBox, and SevenRooms.
This funding round follows Table22’s 3 times year-over-year growth, ongoing 99% monthly retention of core merchant customers, and expanding suite of commerce, fulfillment, and marketing tools used by independent restaurants, grocers, butchers, beverage retailers, coffee shops, bakeries, breweries, and cheesemongers across 38 U.S. states.
Merchants who utilize Table22 routinely generate six figures or more of new, high-margin revenue for their businesses through innovative consumer offerings like subscriptions, retail packages, and branded CPG products enabled by the company’s platform.
Table22 was launched in 2020 to provide a new revenue and margin expansion path for America’s ~500k independent food and beverage merchants. And the company’s mission is to empower every food and beverage business owner to thrive economically, delight customers, and fulfill their creative purpose.
KEY QUOTES:
“At Table22, we believe that food & beverage businesses have the opportunity to serve their customers in a wide variety of compelling — and profitable — new ways. Our platform represents an entirely new selling paradigm for this essential, beloved industry — one that helps owners to ‘expand the pie’ with untapped revenue and offering categories; to transform the productive capacity of cost centers like prep shifts and off hours; and to drive more loyalty and brand affinity with their customers. We are thrilled to partner with Lightspeed on this round, and look forward to continuing to invest behind the success of our growing base of merchant partners around the U.S.”
– Sam Bernstein, Table22 Founder & CEO
“Table22 is a rare win-win-win for the restaurant, the guest, and the platform. Since we began working with Table22 in 2021, the platform has enabled us to drive seven figures of new sales across subscriptions and retail e-commerce, while helping us nurture our guest relationships and extend our brand beyond our four walls.”
– Aaron Silverman, Founder of Washington, D.C’s award-winning Rose’s Restaurant Group and Extra Fancy Catering & Events
“Americans are spending more on out-of-home food than before the pandemic, but paradoxically it’s never been harder for restaurants to earn a profit. Table22 is growing the pie for all constituents in the food and beverage ecosystem by enabling merchants to tap into new sources of profitable growth. When we spoke to owners of food and beverage establishments, several told us that partnering with Table22 was like adding an extra week of revenue each month to the operating calendar. That kind of immediate and impactful customer experience, paired with Table22’s best-in-class retention and customer economics, led us to partner with Sam and the Table22 team.”
– Alex Taussig, partner at Lightspeed Venture Partners
