Toronto-based food ordering app Ritual has raised $90 million CAD ($70 million USD) in a Series C led by Georgian Partners.
The round included participation from existing investors Greylock Partners, Insight Ventures, and Mistral Venture Partners. The company also announced growth of 44,500 workplace teams added to its platform, largely driven by its Piggyback feature allowing users to connect with teams within their workplace.
Goldman Sachs, Oath, Spotify, and SpotHero are among the companies using Ritual, and the app is available in cities like Boston, Chicago, Houston, Los Angeles, Minneapolis, New York, San Francisco, Santa Monica, Washington, DC, and Toronto.
“Ritual is designed so that colleagues and coworkers can easily enjoy the local eateries around them and feel like they are one team dining together.”
– Ray Reddy, Ritual CEO
“For many urban workers, their neighbourhood is their food court. Ritual is designed so that colleagues and coworkers can easily enjoy the local eateries around them and feel like they are one team dining together,” said Ray Reddy, co-founder and CEO, Ritual. “Furthermore, Ritual makes it easy for teams to order and bring food back to the office for colleagues. Once restaurants have one customer on Ritual, they are giving that customer a tool to save time when they order and pick-up, and turning that same customer into an advocate for its brand in the workplace, leveraging a network effect that drives additional lunch orders and deliveries.”
In September 2017, Ritual raised a $53 million CAD Series B. That same year, it added real estate investment company Tishman Speyer as a Series B strategic investor. The company said Tishman Speyer is scaling Ritual through its global properties, and will help the company continue its growth among real estate investors and property managers.
“As part of our workplace amenity program Zo, Ritual creates a sense of community for our tenants, makes their day-to-day lives easier and boosts their productivity, and we’re excited to bring this experience to more Tishman Speyer locations globally,” said Rob Speyer, president and CEO of Tishman Speyer. “We take great pride in the distinctive quality, value and services we offer to our tenants worldwide, and Ritual fits perfectly into our philosophy.”
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