Galley Solutions:The food data company, which provides food technology to food business operators to make more profitable decisions about their culinary activities, has raised $ 14.2 million in A Series funding.
Ian Christopher, CEO, co-founded the company with his brother, CEO Benji Colta, in 2017. The food enterprise resource planning tool originated from Colta’s previous work, h. Shugh:A delivery-only restaurant founded by CEO Gaga Biani and former Google CEO Nate Keller.
Christopher explained that initially there was no registration system, so most of the work was done in a low-tech environment – spreadsheets or pens and pencils. Coltay, who has a food allergy, was constantly receiving poorly labeled foods and had health reactions.
“He went to the cooking team, he just said. “Why are we doing this wrong?” Christopher told TechCrunch. “We have this source of truth for our recipes, so why not spread the word about all the other aspects of this process, including labeling և allergen information. That was when the chef kindly walked him through the chaos in their kitchen. ”
Coltay, working with Keller, took a recipe-centric approach, coding Galley’s first version, which provides clean recipe data, predictive shopping, smart inventory, and accurate food production planning. Keller now works with Galley as part of a customer success plan.
The company’s technology is a kitchen productivity tool that focuses on basic recipe data, and և purchasing և inventory aspects. For example, carrot soup carrots are mapped to real-time vendor products so the kitchen can make better buying decisions և more precise recipe boundaries.
Galley works with companies such as DoorDash, Aramark and Chowbotics. The company has increased its subscription revenue by 280% compared to last year, seeing a net dollar retention of 146% in the first quarter of 2022, Christopher said.
It was at the point of growth where it was profitable, close to positive cash flow, when management decided to use its position aggressively.
This is where A Series comes in. The investment was led by Astanor Ventures և includes the participation of current investor Zetta Venture Partners. This gives the company $ 20 million in total funding to date. Galley is the latest startup to bring kitchen technology to funding. We saw that earlier this year Us: raise $ 6.5 million for its recipe software.
At the same time, the new financing allows the company to scale, move to secondary markets to connect supply and demand, focusing on purchasing decision-making and automation of procurement activities.
“We were able to make millions of dollars in revenue from two vendors in our organization, so we need to grow our sales team,” Christopher said. The new funding will also go to the product and engineering sectors.
Next, the company focuses on sustainability as part of its partnership with Astanor, including sustainability impacts and food waste initiatives.
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