London Technology Club participates in USD15m Sharebite Series A fundraising
The London Technology Club (LTC), has invested in Sharebite, a mission-driven food ordering platform built exclusively for workplaces.
LTC has invested as part Sharebite’s USD15 million ‘Series A’ funding round to drive exponential growth and further strengthen its leadership in the corporate food ordering space.
LTC took part in the round alongside leading impact fund Lafayette Square, Essential Capital, the founders and former executives of Seamless (now part of GrubHub) and Delivery Hero and other prominent technology investors including Liberty City Ventures, Percy Capital, Reign Ventures, River Park Ventures.
Sharebite’s laser-focus on developing food ordering solutions for the workplace has allowed it to establish a strong foothold within the larger food delivery space. The company’s enterprise-focused technology, which allows firms to easily manage food ordering and expense allocation across all levels of the organisation, has allowed it to secure exclusive relationships with the most prestigious investment banks, law firms, asset management firms and other professional service firms in the country such as Credit Suisse, Neuberger Berman, Cravath and Sullivan & Cromwell. In 2020, while the pandemic shuttered cities across the country, Sharebite was successful in preparing companies focused on bringing employees back to the office and grew its contractual business by 400 per cent while also significantly bolstering its new business pipeline.
London Technology Club Founder and Chief Executive Officer Konstantin Sidorov says: “Members of the London Technology Club are delighted to be part of this investment round in Sharebite alongside some other leading investors in the space. Sharebite has an innovative technology-driven solution for post pandemic workplaces in a way that benefits customers and helps local hospitality businesses to recover and flourish once again. It is an exciting, high-growth technology company which is set to continue delivering a great service for its customers and clients alike. We are proud to assist Sharebite in accelerating with the impact of their mission-driven food ordering platform.”
Dilip Rao, CEO and Co-founder of Sharebite says: “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,”
Sharebite allows companies to centrally manage employee food ordering and facilitate contactless deliveries at designated drop-off points inside office buildings. Group orders can be customised to each company’s specific needs, and restaurants can be rotated on a daily basis thanks to the multitude of options available through Sharebite’s extensive network of restaurant partners. These restaurant partners benefit from the economies of scale associated with preparing and delivering large quantities of orders in batches that are ordered in advance. Each order placed via Sharebite results in a donation made to City Harvest, specifically to help alleviate childhood hunger in local communities.