Sharebite, a mission-driven, food-ordering platform built for workplaces, announced it completed a $15 million Series A funding round to drive what it called “exponential growth” and further expand into the corporate food-ordering space. Lafayette Square led this round along with founders and former executives of Seamless and Delivery Hero.
Sharebite donates 2 percent of each order placed on its platform to City Harvest, a New York-based nonprofit that has helped feed millions of people. The company’s enterprise-focused technology allows firms to manage food ordering and expense allocation, and it was able to grow its contractual business by 400 percent throughout 2020.
“With the launch of Sharebite Stations in November 2020, Sharebite was able to provide a post-pandemic lunch solution for its clients while also extending the benefits of its platform to businesses of all types across the country. Companies that historically ordered buffet-style catering or had in-house cafeterias are now looking for new solutions in the post pandemic world that are not only safer, but also reduce waste,” says Mohsin Memon, chief operating officer and co-founder.
Sharebite Stations allows employees to avoid buffet lines or crowded elevators and restaurants during the lunch rush. Orders are placed using group-order technology, and meals are individually packaged, labeled, delivered and placed in designated areas within an office, ensuring a contactless ordering experience. Orders are batched into drop-off windows, allowing employees to avoid what the company calls “increasingly expensive fees charged by other delivery platforms.”
“This capital raise is a testament to our team’s unrelenting focus on innovating and building the gold standard of corporate food ordering technologies. As we begin our next phase of growth, this funding will accelerate our strategy as companies look to reopen their offices and reimagine the post-pandemic workplace,” said CEO Dilip Rao.
Sharebite is the first food technology investment made by Lafayette Square, which launched in late 2020 with the goal of making investments that drive sustainable impact. Additional investors participating in this round include Seamless founders Paul Appelbaum and Todd Arky, Delivery Hero founder Lukasz Gadowski, Essential Capital, Liberty City Ventures, Percy Capital, Reign Ventures, River Park Ventures and London Technology Club.
With this new funding, New York-based Sharebite will focus on accelerating the expansion of Sharebite Stations across major U.S. metropolitan markets as more employees return to the office.