Goldbelly Announces $100 Million Series C Funding To Empower Chefs & Restaurants With National E-Commerce

Goldbelly's Online Marketplace has Transformed the Restaurant Industry, Connecting Millions of Customers to Their Favorite Foods & Restaurants Around the US

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Goldbelly

May 18, 2021, 09:02 ET

NEW YORK, May 18, 2021 /PRNewswire/ -- Goldbelly, America's first platform for food e-commerce, today announced a $100 million Series C investment to build the future of the at-home restaurant experience and to empower chefs and restaurants to reach new customers nationwide. Growth equity firm Spectrum Equity led the round with participation from existing investor Intel Capital.

"At Goldbelly, we believe that food has a magical, emotional power. So we've created the first platform that connects people with the foods, the places and the experiences that mean the most to them — no matter where they are," said Joe Ariel, founder & CEO of Goldbelly. "As pioneers of the world of food e-commerce, this investment enables us to continue redefining the ways in which consumers can interact with the foods and restaurants they love at home. We're thrilled to partner with Pete Jensen and the Spectrum team as we build an omnichannel future for the restaurant industry."

Goldbelly has seen massive growth over the last year, now with 850 restaurant partners on the platform, covering all 50 states. In 2020 alone, the company added over one million new customers and saw its overall business growth increase more than 300% year over year. With this new round of funding, the company will continue to scale the technology and operations of the platform and accelerate the onboarding of new chef and restaurant partners. It will also be used to launch new content initiatives, building on the success of Goldbelly's interactive, virtual cook-along series, Goldbelly LIVE!, and provide different ways for consumers to interact with their favorite foods, experiences and chefs outside of the restaurant setting.

"The restaurant technology space has seen tremendous innovation over the last decade, but Goldbelly is the first company to offer restaurants the opportunity to turn what has historically been a hyper-local business model into one with a national reach," said Pete Jensen, Managing Director at Spectrum Equity. "Goldbelly enables restaurants to more easily access e-commerce, opening up new markets that were previously unreachable, and it allows consumers to experience the most iconic food makers and best regional cuisines, regardless of where they live. We're excited to collaborate with Joe to help the company and its restaurant partners realize the huge potential of this opportunity in food e-commerce."

The company has also announced two new hires on its executive team who will report directly to Goldbelly founder & CEO Joe Ariel:

Cristina Miller joins Goldbelly as Chief Operating Officer after 7 years as Chief Commercial Officer at the leading design marketplace 1st Dibs. Prior to 1st Dibs, Cristina held senior roles at Group Commerce and Gilt Groupe.
Ranjith Roy joins Goldbelly as Chief Financial Officer after a 15-year career at Goldman Sachs. In his recent role as Managing Director, Roy led many of Goldman Sachs' banking relationships with its most prominent restaurant and e-commerce companies.

"We're honored to welcome Cristina and Roy to the Goldbelly executive team. Cristina's deep marketplace experience, operational discipline and extensive partner relationships, along with Roy's financial expertise and unique knowledge of private and public capital markets, will be invaluable as we continue to scale our business and create the future of our industry. I'm excited to collaborate with two executives that I admire, who passionately share our vision to build the future of food e-commerce," said Ariel.

Goldbelly makes it possible to order America's most loved foods, no matter where you are — from signature dishes from legendary chefs like Daniel Boulud, Thomas Keller, Marcus Samuelsson, Stephanie Izard, Wolfgang Puck and David Chang, to renowned restaurants like New Orleans' Commander's Palace, Philadelphia's Zahav, San Francisco's Wayfare Tavern, NYC's Union Square Cafe and Savannah's The Grey, to iconic regional specialties like Maine lobster rolls, New York bagels, Chicago deep dish pizza and Texas BBQ.

About Goldbelly
Goldbelly is the first platform for national food e-commerce. The company's mission is to connect people with their most loved foods, restaurants and experiences, no matter where they are. Founder & CEO Joe Ariel and his team of "Food Explorers'' search the country to discover the most unique, creative and legendary foods and makers - from the county's top chefs & most iconic restaurants, to the most renowned bakeries, pizzerias, pitmasters and artisan shops. With an ever-expanding, curated selection of over 10,000 of the nation's best regional, small-batch foods, Goldbelly empowers restaurants and foodmakers by offering a platform for small, local businesses to reach new customers outside of their local area. Learn more about us on goldbelly.com and connect with us on Facebook, Instagram & Twitter.

About Spectrum Equity
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 25 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading Internet-enabled software and information services companies. Representative investments include AllTrails, Ancestry, Definitive Healthcare, GoodRx, Grubhub, Headspace, Kajabi, Lucid, Lynda.com, Scribd, The Knot Worldwide, SurveyMonkey and Verafin. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com.

SOURCE Goldbelly