Business Catering Firm ezCater Goes Big With $100M Round
Boston-based ezCater, which runs an online food-ordering service for businesses, said today it has $100 million in new money. The Series D financing round was led by Wellington Management Company, with previous investors including Iconiq Capital and Insight Venture Partners also participating.
The new cash brings ezCater’s total venture haul to $170 million. The company says it will spend the money on product development and international expansion, among other things.
Food ordering and delivery is a crowded sector, of course. EzCater, which got started in 2007, was able to differentiate itself by targeting businesses and sales teams, while most other food-delivery startups were going after consumers. The hope now is that going big with funding will enable the firm to fend off competitors and win the market.
EzCater is led by CEO and co-founder Stefania Mallett (pictured at top).