Member Login
| Forgot your password? |
IVCA Private Equity Profiles
GrubHub.com 
Management: Matt Maloney, CEO and co-founder
Mike Evans, COO and co-founder
Venture Capital Partners: Amicus Capital, Origin Ventures and Leo Capital Holdings
GrubHub has grown to over 120 employees and is expanding rapidly.
The site is completely free for consumers to use. Restaurants pay commissions on each order processed through the site in order to receive online orders that are supported by GrubHub’s 24/7 customer service team. Restaurants that don’t partner with GrubHub can still list their telephone numbers and menus for free – a service that GrubHub’s competitors don’t offer.
A year after winning the University of Chicago New Venture Challenge, GrubHub secured Series A funding in 2007 through Amicus Capital, Origin Ventures and several angel investors, allowing the company to rapidly expand into the top three delivery markets – New York City, San Francisco and Boston. GrubHub secured $2 million in Series B funding in March 2009. The deal was co-led by Origin Ventures and Leo Capital, with earlier investor, Amicus Capital, participating. GrubHub secured $11 million in funding in November 2010. The Series C round of investment was led by Benchmark Capital, the investors behind well-known Internet consumer brands such as OpenTable, Yelp, Zillow and eBay. In its latest round of funding, GrubHub raised $20 million. The Series D round of funding was led by DAG Ventures with Benchmark Capital participating. The company has raised $34 million to date.
GrubHub was also named to Inc. Magazine’s prestigious 2010 500 list, which ranks the nation’s fastest-growing privately held companies. The company came in at No. 5 in the food and beverage category and No. 229 among the top 500 U.S. companies.
Despite the slowdown in the economy over the last few years, GrubHub has continued to grow. The company sent $85 million in orders to independent restaurants at the end of 2010.
There are more than 300,000 delivery and takeout restaurants in the country. On average, GrubHub diners order out more than ten times a month. According to the National Restaurant Association, carry-out and delivery are the fastest growing segments in the restaurant industry, which is one of the largest sectors of the U.S. economy. With more people searching for restaurants and ordering food on-line and through smartphones, the opportunity for continued growth is substantial.
The rapidly growing company currently services Chicago, New York, Los Angeles, San Francisco, Boston, Philadelphia, Washington D.C., San Diego, Oakland, Seattle, Portland, Denver and Boulder, with plans to double its footprint, expanding into more than 26 cities by 2011.
For more information, visit www.GrubHub.com.
The IVCA Private Equity Profiles, a continuing series of portraits of Illinois venture capital and private equity investments, spotlights companies that are emerging or proven successes. Each account furnishes information about the company and the private equity firm or firms that invested in it, illuminating the important role they play in nurturing the companies.
IVCA is a non-profit trade association that serves the Midwest venture and buyout community. It focuses on expanding the size of the industry in Illinois and the Midwest by improving the local ecosystem for investors, entrepreneurs and limited partners. On behalf of its members, IVCA advocates pro-growth government policies, provides a virtual community, via www.illinoisVC.org, for deal flow and networking, and hosts educational and entrepreneurial events that offer networking opportunities for local investors, entrepreneurs, governmental stakeholders and tech-transfer groups.
Click here for pdf of file.
©2012 Illinois Venture Capital Association. All rights reserved. | Sitemap |
FAQs : Venture Capital and Private Equity |
Contact IVCA |
Privacy Policy |
Legal