VentureBeat: ChowNow raises $21 million to help restaurants take online orders
By Paul Sawers
ChowNow, whose food-ordering platform makes it easier for local restaurants to accept online orders, has raised $21 million in a series C round of funding from private equity firms 3L Capital and Catalyst Investors.
Founded in 2012, California-based ChowNow offers a white label platform that lets independent restaurants set up their own online food ordering systems, whether through their own branded website, mobile app, or social media account. ChowNow also offers its own ordering portals through the web and on mobile phones.
ChowNow’s raise is notable given the current status of the online food ordering industry. The mighty Uber is currently preparing for its long-awaited IPO, and though it is better known for its ride-hailing business, a big chunk of the San Francisco-based company’s business is now focused on food ordering through Uber Eats. Meanwhile, San Francisco-based Postmates — having raised $700 million — is also preparing for its impending IPO. Elsewhere, corporate catering marketplace Ezcater recently raised $150 million at a $1.25 billion valuation.