Toronto’s ChefHero, a digital marketplace that allows restaurant owners and their staff to order wholesale food and supplies through one easy and convenient network, has secured $12.6 million in Series A funding.
Since launching in 2017, ChefHero has grown to 60 employees and will use the funding to accelerate growth and fuel expansion to select cities across North America.
Unlike major food distributors, ChefHero takes a hyperlocal approach, improving the way local suppliers and restaurant owners do business together by providing transparency in pricing on one platform with access to hundreds of establishments and vendors.
ChefHero allows individual restaurants to buy in bulk, which translates to substantial savings. Typically, only major national restaurant chains are capable of negotiating discounts but ChefHero caters to single and multiple-owned establishments, thus filling a market niche.
Investors in the round include Accomplice.co, Golden Venture Partners, Precursor Ventures and Math Ventures.
“Restaurateurs have long been relegated to ordering supplies through late-night voicemails and manually comparing pricing. ChefHero digitizes the buying and selling process on both the restaurant and supplier side to help save everyone time and money,” shared Ameet Shah of Golden Venture Partners.
“It’s smart technology with global appeal that fills a niche in a booming industry.”