Kitchen United Raises $100M Series C for Tech Hub
Ghost kitchen and restaurant technology hub Kitchen United raised $100 million in a Series C funding round to further evolve its multi-concept ordering technology platform currently being used by Burger King, Popeyes, Panera Bread, Wingstop, Brinker International and many others.
The fresh infusion of capital included funding from new investors Alimentation Couche-Tard / Circle K, Kroger, Restaurant Brands International, B. Riley Venture Capital, Simon and The HAVI Group, among others, according to a press release Monday (July 25).
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There also was strong participation from existing institutional and strategic investors including GV, RXR, DivcoWest, Cali Group, GoldenArc Capital, General Global Capital, Rich Product Corporation and various funds managed by Fidelity Investments Canada ULC.
Other Series C backers included Kitchen United founders Harry Tsao and John Miller, Kitchen United CEO Michael Montagano and two-time NFL Super Bowl MVP Peyton Manning. The company’s total funding to date is an estimated $175 million, per the release.
“This Series C financing further solidifies Kitchen United’s leadership position in the industry,” Montagano said. “Kitchen United uniquely sits at the intersection of technology, food, and real estate. Our solution serves as the technological and physical infrastructure revolutionizing centrally located distribution hubs through streamlining off-premises ordering and consumption.”
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Kitchen United has approximately 200 operational kitchens across 20 regions using its proprietary technology. Plans are on tap to expand its technological and physical presence as it continues unveiling initiatives, including grocery collaborations with Kroger and at Simon properties nationwide, according to the release.
“We see many commercial opportunities in partnering with Kitchen United as it prepares for considerable scale,” said Kevin Lewis, chief marketing officer, Alimentation Couche-Tard. “We believe this business stands apart from other industry players with its centralized locations, multi-format offerings, experienced management team, and mature technology stack — all of which align with Circle K’s mission to make our customers’ lives a little easier every day as we work together to shape the future of convenience.”