The restaurant industry has been forced to make quick and difficult decisions over the past few weeks with many being forced to either close their doors or offer new off-premise options like takeaway and contactless delivery. Pivoting from one business model to another isn´t easy, and LA-based startup Allset knows this all too well.
The food pre ordering service has managed to raise $8.25 million in series B funding. The startup targets eaters looking for quick meals and has experienced rapid demand shifts among neighbourhoods as well as an increase in contactless pickup options. The company works with more than 2,500 restaurants in 11 U.S. cities as well as abroad, including in Kyiv in Ukraine, New York and its headquarters in LA.
Due to a change in diners eating habits Allset has seen a huge shift in focus when it comes to their consumers. Before the pandemic, it was common for the company to experience demand growth in busy urban centers littered with offices. Now, those places are deserted. The new demand? Delivery to the homes of those workers.
In accordance with its business model shifts, they have implemented some new initiatives including daily discount for pickup orders placed via Allset online and a waived service fee for existing restaurant partners that offer contactless pickup.
Although the company originally planned to raise $12 million, they are lucky to have even finished their funding round as now more than ever investors are looking to hold onto their capital for existing portfolio companies.
Discover the latest startup news @Crunchbasenews