Cheetah, a rising West Coast start-up, is well on its way to transforming the wholesale food industry after successfully closing $36 million Series B funding round led by Eclipse Ventures. This investment will support the expansion of the start-up's new direct-to-consumer service, Cheetah For Me, in the Bay Area
"The positive feedback from the community has been overwhelming," said Na'ama Moran, Co-Founder and CEO at Cheetah. "This funding allows Cheetah to build on our strong foundation and expand essential services directly to the consumer. Now, we can provide even more people with the food and supplies they need in a safe and cost-effective way, throughout this crisis and beyond. Our purpose has always been to help independent restaurants thrive. Now we are helping communities thrive."
With this investment, Cheetah noted that it will be able to expand its contactless pickup and food delivery services when such services are at peak demand.
According to a press release, Cheetah offers transparent pricing to consumers, independent restaurants, and small businesses with next-day, contactless delivery for orders placed through its mobile application. The company then unleashes its fleet of refrigerated trucks to deliver essential grocery goods like fresh produce, snacks, and more.
"This pandemic has shed light on how technology can be used to quickly adapt core services within the food industry like delivery, fulfillment, and supply chains," said Lior Susan, Founder and Managing Partner at Eclipse, who was joined by ICONIQ Capital, Hanaco Ventures, and Floodgate Fund in the Series B funding round. "Cheetah's team has demonstrated agility and ingenuity on behalf of its customers, and the resiliency of building a technology-centric operation. The company's vertical integration and technology stack have enabled it to accommodate changing buyer behavior as food supply chains shifted from a focus on commercial operations to consumer homes."
Cheetah first launched as a wholesale delivery service exclusively for restaurants and small businesses. Since it was founded in 2015, the company has raised a total of $66 million.
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