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Total amount raised
$133M
Latest funding date
2021-05-17
Location
Goldbelly has successfully raised funding over seven rounds, with the latest being a Series C round led by Spectrum Equity and Intel Capital. The platform specializes in delivering gourmet food and food gifts nationwide, featuring meals, desserts, and regional specialties from renowned restaurants and local gems.
What Is Goldbelly?
Goldbelly is a prominent player in the gourmet food delivery industry, connecting specialty food makers and artisans with customers nationwide. Based in New York, New York, the company operates in the delivery service, e-commerce, food and beverage, and last-mile transportation sectors.
Founded by a team of passionate food enthusiasts, Goldbelly has grown to employ between 101-250 people. The platform offers a wide range of food items, including meals, desserts, and regional specialties, collaborating with renowned chefs and iconic restaurants to provide exclusive dishes and meal kits.
How Much Funding Has Goldbelly Raised?
- Pre-Seed Round
- Amount Raised: USD 120,000
- Date: March 2013
- Lead Investors: Y Combinator (YC W13 batch)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology.
- Seed Round
- Amount Raised: USD 3,000,000
- Date: September 2013
- Lead Investors: Intel Capital
- Participants: Y Combinator, 500 Startups, FundersClub, ACE & Company, Dave McClure (angel), Tim Draper (angel)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and market reach.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and onboard more partners.
- Series A Round
- Amount Raised: USD 10,000,000
- Date: March 2017
- Lead Investors: Global Founders Capital, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance technological infrastructure.
- Series B Round
- Amount Raised: USD 20,000,000
- Date: October 2018
- Lead Investors: Enlightened Hospitality Investments (EHI)
- Participants: Intel Capital, 500 Startups, 645 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and onboard new partners.
- Series C Round
- Amount Raised: USD 100,000,000
- Date: May 2021
- Lead Investors: Spectrum Equity
- Participants: Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale technology and operations, onboard new partners, and launch new content initiatives.
Goldbelly has raised a total of at least USD 133,120,000 based on disclosed funding across all rounds. The current valuation is Not publicly disclosed.
Key Investors
- Spectrum Equity
- Details: Spectrum Equity is a growth equity firm that invests in internet-enabled software and information services companies. They led Goldbelly's $100M Series C in May 2021.
- Investment Focus Areas: Internet-enabled software, information services companies, growth companies.
- Notable Investments: Ancestry.com, Grubhub, SurveyMonkey.
- Enlightened Hospitality Investments
- Details: Enlightened Hospitality Investments (EHI) is a growth fund founded by restaurateur Danny Meyer's Union Square Hospitality Group. EHI led Goldbelly's $20M Series B in October 2018.
- Investment Focus Areas: Hospitality, food-related businesses.
- Notable Investments: Shake Shack, Resy, Goldbelly.
- Global Founders Capital
- Details: Global Founders Capital is a global venture capital firm that invests in technology companies across various stages. They co-led Goldbelly's Series A in March 2017.
- Investment Focus Areas: Technology companies, various stages of growth.
- Notable Investments: Facebook, LinkedIn, Slack.
- Intel Capital
- Details: Intel Capital is the investment arm of Intel Corporation, focusing on technology startups. They led Goldbelly's 2013 Seed round and participated in the Series A, B, and C rounds.
- Investment Focus Areas: Technology startups, artificial intelligence, autonomous vehicles, data center and cloud, 5G technology.
- Notable Investments: Cloudera, DocuSign, Vuzix.
What's Next for Goldbelly?
Goldbelly is poised to capitalize on significant opportunities by scaling its technology and operations, accelerating the onboarding of new chef and restaurant partners, and launching new content initiatives. With $100 million raised in its Series C funding, the company has substantial resources to pursue these goals.
Future fundraising opportunities seem promising, given the successful Series C round and the involvement of prominent investors like Spectrum Equity and Intel Capital. This financial backing positions Goldbelly well for potential future rounds to further expand its operations and market reach.
However, challenges lie ahead, including scaling operations while maintaining quality and customer satisfaction, and managing the logistics of delivering perishable goods nationwide. Competition from other food e-commerce and delivery platforms also remains a significant hurdle.
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