Updated 9/24/18 11am CST: Minneapolis headquartered Foodsby has raised
$13.5m $15m (+1.5m more than originally reported) of equity funding + named Alex Ware to President.
Launched in 2012 and led by CEO Ben Cattoor, Foodsby is like a virtual food truck network that uses an online ordering platform to pool and optimize everyday food delivery services to corporate organizations.
Foodsby has expanded to 15 markets in five years and will use the investment money to reach another 15-25 new markets while hiring on the sales, marketing and development teams; they currently count a staff of 80 full time.
In March 2017, Foodsby raised its first round of institutional investment – $6m series A led by New York-based Greycroft Partners; Rally Ventures, which has offices in Minnetonka and California; and Corazon Capital, a Chicago-based venture firm launched by the former CEO of dating website OKCupid.
This round was led by Piper Jaffray Merchant Banking and included follow-on investments from the three named above.
Prior to that, the ventures is known to have raised at least $1m which pegs total capitalization to date around ~$22m, one of Minnesota tech’s most funded right now.