REDWOOD CITY — EAT Club, a fast-growing provider of corporate lunch programs, has raised a $30 million Series C round, led by a strategic investor, Sodexo, with participation from existing investors August Capital and Trinity Ventures. The $30 million investment will fund expansion to New York City and broaden the company’s existing presence in the San Francisco Bay Area and Los Angeles.
Founded in 2010, EAT Club is a Silicon Valley startup that is revolutionizing the way people eat at the office at thousands of companies in California today. The company sets itself apart from the overcrowded food delivery segment with a unique logistics model driven by its own proprietary technology, providing offices with individually selected employee meals at scale. EAT Club serves tens of thousands of individual meals per day with a 99.7% on-time delivery rate, and is generating a profit with healthy margins, a measure of success others have not been able to achieve in this large and growing segment.
“This new investment and partnership with Sodexo will accelerate our ability to offer EAT Club to more offices in cities across the country. We look forward to delighting many more customers in the months ahead with outstanding food and service,” said EAT Club CEO, Mike Griffith. “Our virtual cafeteria model is unique because it allows employees at multiple offices to choose individual meals from a wide variety of options while enabling EAT Club to produce and deliver those meals at economic scale.”
Mark Bickford, CEO, Corporate Services Sodexo North America said: “Workplaces are changing every day. More businesses – particularly in high-density urban markets where real estate costs are high – are looking to us to help provide cost-effective dining solutions that improve their employees’ quality of life. With EAT Club, we are investing in learning and understanding more about offerings that are complementary to what we do – and can ultimately benefit our clients and end users.