Total amount raised
$35 Millions
Latest funding date
Location
MealPal has successfully raised significant funding through multiple rounds, with notable investors such as Bessemer Venture Partners and Comcast Ventures backing the company. The platform offers a subscription service that provides members with affordable daily lunch options from nearby restaurants.
Keep reading to explore the intricacies of MealPal's fundraising journey and the investors supporting this innovative meal subscription service.
What Is MealPal?
MealPal, founded in 2016 by Mary Biggins and Katie Ghelli, is headquartered in New York, New York. The company operates within the e-commerce, food and beverage, internet, and restaurant industries.
With an employee count ranging from 51 to 100, MealPal offers a subscription service that provides members with affordable daily lunch options from nearby restaurants. The service aims to save users money and time while allowing them to discover new dining spots.
How Much Funding Has MealPal Raised?
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Bessemer Venture Partners, Comcast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at expanding MealPal's service offerings and increasing market reach.
- Series B
- Amount Raised: $20M
- Date: September 2017
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support team and market expansion in the US, UK, Canada, and Australia, and to enter new markets in Europe.
- Series A
- Amount Raised: $15M
- Date: February 2017
- Lead Investors: Comcast Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and expand the service in initial markets.
Total Amount Raised: $35M. Current Valuation: Not publicly disclosed.
Key Investors
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies in the consumer and enterprise sectors. They led the $20 million Series B funding round for MealPal.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Uber, Roku, Warby Parker
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a prominent venture capital firm that invests in early-stage companies across various sectors. They participated in multiple funding rounds for MealPal.
- Investment Focus Areas: Enterprise, consumer, healthcare, frontier technology
- Notable Investments: LinkedIn, Shopify, Pinterest
- Comcast Ventures
- Details: Comcast Ventures is the venture capital affiliate of Comcast Corporation, investing in innovative technology and media companies. They have been a consistent investor in MealPal.
- Investment Focus Areas: Consumer, enterprise, frontier technology
- Notable Investments: FanDuel, Houzz, Nextdoor
- Haystack Partners
- Details: Haystack Partners focuses on early-stage investments in technology startups. They participated in the Series B funding round for MealPal.
- Investment Focus Areas: Technology startups
- Notable Investments: DoorDash, Instacart, Carta
- NextView Ventures
- Details: NextView Ventures specializes in seed-stage investments in internet and software startups. They also participated in the Series B funding round for MealPal.
- Investment Focus Areas: Internet, software startups
- Notable Investments: TaskRabbit, Code Climate, Attentive
What's Next for MealPal?
MealPal's future looks promising with significant opportunities for growth. The company plans to expand its market reach across the United States, United Kingdom, Canada, Australia, and new markets in Europe. This expansion, coupled with the introduction of a dinner subscription service, could attract a broader user base and increase market penetration.
As MealPal continues to grow, future fundraising opportunities are likely. The success of their expansion and new services could draw more investors, leading to additional funding rounds. However, the company may face challenges such as scaling operations internationally, managing logistics, and competing with other food delivery services.
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