With restaurants across Los Angeles County closed to dining in, there’s been a huge boost in food delivery and takeout orders. And as a result, online food ordering companies like Grubhub and Postmates are seeing an unexpected bump in business.
LA-based Allset is also cashing in. On Tuesday, the company announced the closing of its $8.25 million Series B funding round. EBRD led the round, with participation from Andreessen Horowitz, Greycroft, SMRK VC Fund and Inovo Venture Partners. This brings the company’s total funding to $16.6 million.
Founded in 2015, Allset built an online platform for diners to pre-order food ahead of time, meaning that they could show up to a restaurant, receive their food right away, dine in and leave without waiting for a bill. But in addition to this dine-in pre-order model, the company also lets diners order food for takeout, including contactless pick-up. Since dining in is no longer an option in most places, most people are now reliant on ordering takeout or delivery.
Allset’s CEO Stas Matviyenko says the company is benefiting local businesses by letting them operate as usual despite the closures.
“Today we are actively working to ensure the safety of customers and supporting the local businesses. The new funding will enable us to help the communities we serve during this challenging time and to meet the growing demand for online takeout orders, making it easy for people to support restaurants they love,” Matviyenko said in a statement.
Ordering via Allset is available at over 2,500 restaurants in 11 major U.S. cities, including New York, Los Angeles, San Francisco, Chicago and more.
“Looking ahead, we aim to strengthen Allset’s position in the busiest districts of our major markets like New York and Los Angeles,” Matviyenko said. “We want to bring even more value to our customers and be the No. 1 everyday dining solution for busy diners in the busiest districts as soon as the current situation improves.”
Allset is planning to use this new funding to revamp its app, adding new features like recommendations based on order history, an improved “Healthy” category and curated menus.
