Off-premises operator Kitchen United announced Monday that it raised $100 million, with contributions from recognizable investors like Burger King parent Restaurant Brands International, The Kroger Co., Circle K, and Pro Football Hall-of-Famer Peyton Manning.
With this round, the company’s total raise to date reached roughly $175 million.
“This Series C financing further solidifies Kitchen United’s leadership position in the industry,” CEO Michael Montagano said in a statement. “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. To that end, we are thrilled to partner with leading investors across grocery, convenience, restaurants, malls, packaging, logistics, distribution, automation, and urban and suburban real estate development.”
Kitchen United, which has seen triple-digit topline growth for three straight years, operates approximately 200 stations across 20 regions, and there are near-term plans to “significantly increase” its technological and physical footprint. The company will primarily focus on the U.S.’s largest markets Los Angeles, New York City, Chicago, and Texas, and evolve its multi-concept platform that allows customers to order from multiple brands on one ticket and receive items from one driver. Existing partners include Burger King, Popeyes, Chick-fil-A, Portillo’s, Panera, Dog Haus, Wingstop, and Chili’s parent Brinker International.
The news comes as a host of food tech vendors announced series of layoffs, including REEF Kitchens, Lunchbox, Nextbite, sunday, Gopuff, and ChowNow.
“The rising trend of off-premises dining presents a major growth opportunity for the ghost kitchen sector, and Kitchen United is uniquely positioned for significant expansion in the years ahead,” David Krane, CEO and managing partner of GV, Google’s venture capital arm, said in a statement. “We’ve long been impressed with Kitchen United’s exceptional execution and unparalleled leadership in the sector. We’re excited to continue partnering with Michael Montagano and the entire Kitchen United team as they open more kitchen centers across the country and reach more restaurants and consumers.”
New investors were Alimentation Couche-Tard/Circle K, The Kroger Co., Restaurant Brands International, B. Riley Venture Capital, a subsidiary of B. Riley Financial, Simon, Phillips Edison & Co, and The HAVI Group. Existing partners providing capital were GV, various funds managed by Fidelity Investments Canada ULC, RXR, DivcoWest, Cali Group, GoldenArc Capital, General Global Capital, and Rich Product Corporation. Kitchen United founders Harry Tsao and John Miller, and Montagano made investments, as well.
