All Day Kitchens Expands With $65 Million Series C

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; All Day Kitchens&comma; which operates ghost kitchens in the Bay Area and Chicago&comma; has scored a &dollar;65 million Series C financing round led by Lightspeed with participation from GIC&comma; and Alex Taussig joining the board as Director and Jeremy Kranz as Board Observer&period; Existing investors Andreessen Horowitz&comma; Founders Fund&comma; Khosla Ventures&comma; and Base10 also participated in the round&comma; and new investors include real estate firm&comma; Tishman Speyer&comma; Lime CEO&comma; Wayne Ting&comma; and Forward co-founders&comma; Adrian Aoun and Ilya Abyzov&period; The company has raised &dollar;102&period;5 million to date and will use the proceeds to expand to new markets&comma; R&amp&semi;D and hiring&period;<&sol;p>&NewLine;<p>All Day Kitchens&&num;8217&semi; mission is to empower restaurants to thrive in the digital ordering and delivery era&period; Unlike the traditional warehouse ghost kitchen model&comma; the company offers restaurants access to a full network of strategically located satellite kitchens to quickly multiply their customer reach without upfront investments associated with opening a brick-and-mortar location&period; Their micro-fulfillment model not only offers a plug-and-play solution for restaurants to rapidly scale their digital business but also brings great restaurants closer to consumers&period;<&sol;p>&NewLine;<p>With over 15 locations operating throughout the Bay Area and Chicago&comma; the number of restaurant partners on the platform has grown 4X in the last 12 months&period; All Day Kitchens has partnered with beloved local brands such as Honey Butter Fried Chicken&comma; Mott St&comma; HaiSous&comma; 90 Miles Cafe&comma; Cheesie&&num;8217&semi;s&comma; China Live&comma; Dosa&comma; and Mac &&num;8216&semi;n Cue by International Smoke from Michael Mina and Ayesha Curry&period;<&sol;p>&NewLine;<p>&&num;8220&semi;After six months on All Day Kitchens&comma; it&&num;8217&semi;s clear this concept is the future of the industry&comma;&&num;8221&semi; said Darnell Johnson&comma; owner of Chicago&&num;8217&semi;s Home of Chicken &amp&semi; Waffles&period; &&num;8220&semi;The partnership has been an unbelievable way to expand our brand reach and take us to another financial level&period; The volume of guests coming in who discovered us through an All Day Kitchens location keeps growing&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;All Day deeply understands the pains that restaurants face scaling their businesses in a delivery-first world&period; They have invented the most elegant solution to this wide-spread problem and are well on their way to becoming the leader in infrastructure for food delivery&&num;8221&semi; said Alex Taussig&comma; Partner at Lightspeed&period; &&num;8220&semi;We couldn&&num;8217&semi;t be more delighted to lead their round and help support restaurants around the country&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;COVID has been challenging for businesses&comma; especially in the restaurant industry&period; We&&num;8217&semi;ve seen increasing urgency from restaurants to expand digitally&comma; for pick up and delivery&comma; using All Day Kitchens&period; We&&num;8217&semi;re scaling rapidly in new markets to help more great brands thrive&&num;8221&semi; said All Day Kitchens CEO and co-founder Ken Chong&period; All Day Kitchens has doubled the number of satellite kitchens in its network this year and plans to accelerate opening new locations&period;<&sol;p>&NewLine;<p>With the new round of funding&comma; All Day Kitchens is hiring rapidly for its headquarters&comma; and opening several new markets across the US&period; Their next market launches will be in Texas and Southern California&comma; where they&&num;8217&semi;ve already received high inbound interest from top regional brands&period;<&sol;p>&NewLine;