Allset Raises $8.25 Million Series B Amid Increased Demand for Online Takeout Orders Caused by the Global Pandemic
Los Angeles-based food pre-ordering service Allset announced it has raised $8.25 million in Series B funding round, led by EBRD with participation from existing investors Andreessen Horowitz, Greycroft, SMRK VC Fund, as well as new investor Inovo Venture Partners. The new round brings the Allset’s total investment to $16.6 million.
“Today we are actively working to ensure the safety of customers and supporting the local businesses. The new funding will enable us to help the communities we serve during this challenging time and to meet the growing demand for online takeout orders, making it easy for people to support restaurants they love,” said Stas Matviyenko, CEO at Allset.
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Allset is providing a dedicated support budget to help local restaurants weather this unprecedented crisis. The initiatives include a daily $4 discount to customers for all pickup orders placed via Allset and a waived service fee for all existing restaurant partners that provide the contactless pickup option at their stores. The new option enables customers to pick up their online orders in dedicated contactless pickup areas at stores, removing the need for direct contact for both parties.
“Looking ahead, we aim to strengthen Allset’s position in the busiest districts of our major markets like New York and Los Angeles,” said Stas Matviyenko. “We want to bring even more value to our customers and be the #1 everyday dining solution for busy diners in the busiest districts as soon as the current situation improves.”
Allset helps busy diners get a quick bite at restaurants and food spots in the busiest districts. It ensures food will be ready for the requested time, and diners can leave without waiting for a bill, resulting in a faster and more seamless dine-in or pickup service.
“Food pre-ordering space is growing very fast, with only a few startups focusing on the pickup model. The Allset team is building a great product and their effective execution yields strong unit economics with sustainable growth. We’re excited to partner with them in their next phase, as well as proud to support their efforts in serving local businesses and customers during this unprecedented time for the restaurant industry,” said Maria Barsuk, Venture Capital Investment Programme at EBRD.
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“The proof of network effects in such competitive markets and the fact that the company has a playbook on how to scale it further, as well as the team with excellent execution and operational skills, were the key factors underpinning our decision to invest in Allset. We are very impressed with Stas and Anna, the founders of the startup, and look forward to partnering with Allset to further accelerate their progress,” said Michał Rokosz, Partner at Inovo Venture Partners.
“Also, we’re happy to shed some light on what a new Allset app will look like,” said Stas Matviyenko. “New features that are based on user insight and data will further enhance both the ordering and dining experiences with Allset, making it even easier for diners to eat out every day without spending much time.”
Key features of the redesign will include:
- Personalized restaurant and food recommendations based on customer’s ordering history, dietary preferences, searches, and more, to make it easier for diners to find more relevant food options nearby.
- Improved Healthy Category with the best and healthiest foods just a tap away.
- Extended Allset Specials, exclusive menu offerings made in partnership with restaurants and carrying a discount, to make everyday dining more affordable to diners.
- Hand-curated menus with simplified item descriptions and highly customizable meal options and add-ons to better complement the main choice.
- Focus on most common use cases, like getting a quick meal or a coffee nearby, to further streamline and simplify the app experience.
Founded in 2015, Allset is currently available at 2,500+ restaurants in 11 biggest U.S. cities: New York, Los Angeles, San Francisco and The Bay Area, Chicago, Houston, Boston, Seattle, Austin, San Jose, Las Vegas, and Miami. The popular restaurant partners include Buffalo Wild Wings, Subway, illy Caffè, Bareburger, Schnippers, Pokéworks, Freshii, The Bean, by Chloe., and others.
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