From left, HUNGRY co-founder Shy Pahlevani, investor Humble Lukanga, investor Anfernee Simons, co-founder Eman Pahlavani, and investor Robert “Bob” Hisaoka at a Portland Trail Blazers game. Image credit: HUNGRY.
With over $60 million raised since inception, HUNGRY is now valued at $270 million and is poised for continued growth and full operational profitability.
Washington, DC (RestaurantNews.com) HUNGRY (tryhungry.com) is on a roll. Fresh from winning prestigious national business awards for its explosive growth and receiving recognition for its community give-back initiatives, the food-tech marketplace has just closed a $10 million Series C1 funding round, its final raise before expected profitability.
The funding catapults HUNGRY’s valuation up to $270 million and includes investments from professional athletes Anfernee Simons of the Portland Trail Blazers, Bobby Wagner of the Seattle Seahawks, Roquon Smith of the Baltimore Ravens and Laremy Tunsil of the Houston Texans. Robert G. Hisaoka of RGH Capital, who was one of HUNGRY’s earliest investors, returned for a leading investment in this round, with additional investments from many new and current investors, including Sands Capital Ventures, Motley Fool Ventures, Evolution VC Partners and GP Ventures as well as Chef Tom Colicchio, Chef Ming Tsai, Dan Simons, Eric Kessler.
“Since participating as a seed investor to HUNGRY in 2016, I’ve been extremely impressed with the company’s ability to expand rapidly and disrupt the food space,” said Robert “Bob” Hisaoka, Chairman and CEO of RGH Capital. “I am excited to invest and lead HUNGRY’s C1 funding and look forward to the growth that’s to come.”
The Series C1 group joins HUNGRY’s A-list roster of existing individual and institutional investors, including Jay-Z’s Marcy Venture Partners, Kevin Hart, Usher, Ndamukong Suh, Stonewall Robb Investments, Studio Management, Bread and Butter Ventures, Ames Watson, LLC, and others.
Having now raised $60 million, HUNGRY will use the C1 capital to continue its growth trajectory and reach full operational profitability. HUNGRY has expanded from operating in five markets pre-COVID to 13 major cities across North America. The company recently acquired a better-for-you snacks brand, NatureBox, and has been on the front end of corporate America’s return-to-office movement (RTO). RTO is helping fuel HUNGRY’s exponential growth, improved margins and geographic and product-line expansions.
“We’re proud that our work at HUNGRY has attracted the attention of big-time investors and leading venture funds,” said Jeff Grass, HUNGRY Co-Founder and CEO. “We’re equally proud of the work we do to give back to the communities we serve, which also will benefit from this capital. The funding enables HUNGRY to expand our new Carbon Neutral Delivery initiative, aimed at fully offsetting the carbon footprint of our catering deliveries by planting mangrove forests in the Philippines.”
HUNGRY recently made headlines for debuting on the 2023 Real Leaders Impact Awards list. HUNGRY also made the 2022 Inc. 5000 list and was ranked among Deloitte’s Technology 2022 Fast 500 companies. It was named a Best Company to Work For by US News & World Report and a Top Startup to Watch in 2022 by BuiltIn.
For more information on the company, its services and initiatives, visit tryhungry.com.
HUNGRY, the innovative food-tech marketplace that provides amazing business food solutions from top local chefs and restaurants, was founded in 2017 by entrepreneurs Eman Pahlavani, Shy Pahlevani and Jeff Grass. Headquartered in Washington, D.C., with a growing national footprint, HUNGRY has rapidly disrupted the $60-billion corporate food and events market with its curated solutions as well as live and virtual experiences. HUNGRY is laser-focused on improving the lives of the chefs, clients, and communities it serves, donating over 1 million meals to people in need through its Fighting Hunger program and actively promoting waste reduction through its Food Solutions initiative. HUNGRY’s notable investors include Jay-Z’s Marcy Venture Partners, Kevin Hart, Usher, Ndamukong Suh, and celebrity chefs Tom Colicchio and Ming Tsai. In addition to Washington, HUNGRY has operations in Atlanta, Austin, Boston, Chicago, Dallas, New York, Los Angeles, Oakland, Philadelphia, Salt Lake City, San Francisco, and San Jose. For more information, visit tryhungry.com.
Mary Eva Tredway
Source : RestaurantNews