|[August 20, 2014]
OrderUp Raises $7M to Bring On-Demand Food Ordering and Delivery Services to Hometowns Nationwide
WASHINGTON & BALTIMORE --(Business Wire)--
Baltimore-based online and mobile food ordering and delivery service OrderUp
today announced it raised $7 million in Series A venture funding led by Revolution
Ventures with participation from Tim O'Shaughnessy, co-founder of
LivingSocial (News - Alert). The new investment will fund the acceleration of the
company's national growth plan and the continued development of its
delivery technology and services. OrderUp will also open two offices in
New York City and Boulder, Colorado to build out their development and
marketing teams. Revolution (News - Alert) Ventures managing partner, Tige Savage, will
join OrderUp's board of directors along with Chris Brandenburg,
co-founder of Millennial Media.
Since launching OrderUp in 2009, co-founders Chris Jeffery and Jason
Kwicien have expanded the business into 35 markets and fulfill more than
10,000 food deliveries per week, a small percentage of their total
weekly transactions. Technology companies like OrderUp continue to fuel
the on-demand economy, and OrderUp will provide those living in towns
and small cities the same oppotunities for convenience that consumers
in big cities get to experience. With the new financing, the company
will focus on launching in additional markets that are underserved by
food delivery service companies and invest in enhancing its delivery
technology and service.
"We go well beyond just a list of restaurants that already deliver, and
we're doing that by giving restaurants premier tools and services so
that their customers can order delivery online and on mobile devices,"
said Chris Jeffery, chief executive officer of OrderUp. "We can help
restaurants whether they've delivered for years or haven't even thought
about it. That means access to more delivery options and a more
transparent ordering experience for consumers."
"Consumers love the convenience of ordering online. Yet, outside the
major metropolitan markets, it's shockingly difficult to find online
food delivery options," said Tige Savage (News - Alert), managing partner at Revolution
Ventures. "OrderUp allows restaurants in small towns nationwide to
cost-effectively join the digital age through an innovative ordering and
delivery model. Restaurants love it and consumers do too."
OrderUp provides restaurants with unique tools and technology that make
it simple for them to create customized digital ordering and delivery
solutions for their customers. The company's biggest growth
opportunities are with restaurants that have existing delivery
operations but need better logistics technology and those who see the
cost benefit of partnering with OrderUp's fleet of drivers.
In addition to owning and operating many locations, OrderUp provides
franchising opportunities in select towns.
OrderUp is an online and mobile food ordering and delivery service. With
feet on the street in over 35 towns, OrderUp provides easy access to
great food from locals' favorite restaurants. Headquartered in
Baltimore, MD, OrderUp has a dual-distribution model, with some
locations owned and operated by the company, and others franchised.
to learn more.
About Revolution Ventures
Revolution Ventures, led by Steve Case, Tige Savage and David Golden,
invests in start-ups and early-stage companies founded and led by
passionate entrepreneurs. Revolution Ventures is focused on investing in
technology-enabled businesses that empower consumers and businesses and
disrupt existing, multi-billion dollar industries. Revolution Ventures
is headquartered in Washington, D.C. www.revolution.com/ventures
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