FoodTech startup Lunchbox raises $50M to help restaurants and ghost kitchens build their own ordering experiences

Lunchbox, a New York-based FoodTech startup that’s disrupting the restaurant industry, today announced it has raised $50 million Series B Funding to help mom-and-pop restaurants break their reliance on third-party apps. The round was led by Coatue, with participation from existing investors Primary and 645 Ventures as well as executives from DoorDash, Sweetgreen, and &pizza.

This announcement comes on the heels of Lunchbox’s acquisition of Spread, an online marketplace that connects restaurants with diners. Lunchbox has also created a first-of-its-kind digital food hall with C3 that allows restaurant groups to create an experience where guests can order from multiple brands in one cart.

Lunchbox said it will use the new cash infusion to accelerate product research and development to meet increased demand for its brand-first restaurant technology. The company currently offers a suite of products including web and app ordering, loyalty programs, channel marketing, and Lunchbox Studio. This new funding will also enable Lunchbox to bring on top-tier talent to elevate across departments.

In conjunction with the funding, Lunchbox is announcing a new member to its executive leadership team. Kieran Luke was named as Chief Operating Officer at the start of the year to oversee all operational functions and products across the organization. Kieran was previously Chief Operating Officer at General Assembly, where he focused on providing Enterprise clients with assessment and training products.

Founded in 2019 by CEO Nabeel Alamgir, Andrew Boryk, Hadi Rashid, and Mohammad Afzal, Lunchbox offers digital marketing and ordering solutions for brick-and-mortar restaurants. The startup offers various features such as app ordering, web ordering, kiosks, and others that enable restaurants to create customizable digital ordering experiences that keep them fully engaged with their brand.

“We’ve built a transformative food tech company by creating products designed by restaurateurs for restauranteurs,” says Nabeel Alamgir, CEO, and Co-Founder of Lunchbox. “The pandemic forced restaurants to understand and quickly adapt to new technologies in order to stay afloat and we’re here to help. At its core, Lunchbox is committed to building exceptional tools that will help restaurants everywhere.

In August 2021, Lunchbox acquired Spread to create what the company called the “industry-first no-commission delivery platform.” Then in late 2021, Lunchbox unveiled new products built for ghost and virtual kitchens.

Since announcing their Series A in October 2020, Lunchbox has saved restaurants over $35 million that would have otherwise gone to third-party ordering platforms. Restaurants including Bareburger, Clean Juice, Fuku, Little Sesame, Sticky’s Finger Joint, and Tacombi use Lunchbox’s technology.