Superorder Successfully Closes $10M Series A Funding Round to Fuel New Generative AI and Order Management Tools for Restaurants

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Superorder, the first all-in-one delivery and takeout operating system for restaurants, today announced the close of a $10M Series A and angel funding round led by Foundation Capital with participation from investors like Michael Seibel (Managing Director of Y Combinator), Kyle Vogt (Cofounder CEO Cruise), Daniel Kan (Cofounder Cruise), Jon Swanson (Chairman Thumbtack), James Beshara (Founder MagicMind) and I2BF Global Ventures to name a few. The company also launched a selection of generative AI and order management tools designed to drive restaurants profitability from online sales, which includes the fastest AI-powered website builder for restaurants. The funding follows a period of consistent growth for the company and its recent rebrand from its previous name, Forward Kitchens, marking a significant milestone in the companys expansion to become the one-stop shop for online delivery and takeout management for restaurants.

Superorder works with more than 1,500 restaurants today in 180+ cities, providing them with solutions that help them grow revenue from delivery and takeout with virtual brands. Superorder enables them to run smoother shifts with order management, automate their marketing and manage their financials more effectively. Restaurants rely on Superorders proprietary AI algorithms, which identify unmet needs in their market, to maximize revenue and profit for their virtual brands. Additionally, Superorder consolidates all orders from all platforms into a single system which saves time, reduces errors and improves efficiency.

Superorders new tools launching today will enable restaurants to capitalize on the increasingly growing delivery market, which is expected to reach nearly $270 billion in revenue in the U.S. alone this year. They include the following:

• AI-powered Website Builder: Restaurants can now build a website through a search-based interface by typing in a query like, Build me a website for an Italian restaurant in New York, and picking a design template. It allows owners to easily edit and build the website using the restaurants existing menu and photos or AI-generated images and menus. With this new tool, restaurant owners without extensive technical skills can easily and quickly build well-designed websites to increase their online sales.

• AI Images and Menus: Restaurants can create compelling food imagery assets by quickly matching item menu descriptions, automating photo creation and editing, eliminating manual photoshoots, and saving valuable time for operators. In addition to photography, they can also craft well-written, creative and accurate menu descriptions and item names with a simple click. This innovative technology empowers restaurants to easily create new and unique menus on demand, streamlining the menu development process.

• Order Management: Restaurants now see more than 50% of their business come from digital platforms. Before Superorder, they had to dedicate time from their short-handed staff to manage three or more different ordering systems. Now, orders from all online platforms can flow into a single system, thereby saving time, reducing errors and improving efficiency.

• Automated Marketing: Sophisticated online marketers use tools to run advertising copy, pricing, and images. Until now, restaurateurs had limited ability or time to ensure their menus were accurately represented across various online ordering platforms. Superorder puts online marketing on auto-pilot by synchronizing menus across all platforms and optimizing menu item prices, descriptions and imagery to improve conversion rates and sales.

• Financial Management: Restaurants with a significant portion of digital sales struggle to get full visibility into their revenue, fees and marketing spend across all delivery platforms. Superorder's ledger and payments technology automatically reconciles every sale across platforms, identifies potential errors and distributes payments faster. It also allows them to monitor and manage payment schedules according to their preferred cadence (including daily payments), granting greater flexibility and understanding of their financial operations.

For most restaurants, digital revenue is becoming an increasingly larger share of their business, making tools like third-party delivery platforms, virtual restaurants, and online ordering imperative in order to compete and remain successful, said Raghav Poddar, CEO of Superorder. In the same way that its largely illogical not to use Shopify when building an e-commerce store, a simple, consolidated, and automated platform to run all delivery and takeout revenue will become the obvious choice for any restaurant. Superorders mission is to simplify tech adoption to give restaurant owners time to invest in their core business, which is cooking great food."

With convenient digital delivery and take-out driving an ever-growing share of restaurant sales, Superorder helps restaurateurs accelerate profitable growth while running a smoother operation, said Angus Davis, General Partner at Foundation Capital. Having founded and grown a restaurant tech company earlier in my career, I was especially excited to invest in Superorder, which is leading the next generation of technology to help local restaurants succeed and grow.

Superorder was founded in 2019 by Raghav Poddar, who studied at Columbia University. He conceptualized the company as part of the Y Combinator Summer 2019 cohort after seeing the lack of quality online presence from the restaurants he loved ordering from. In 2021, Superorder announced a $2.5M seed round, which was leveraged to expand the companys footprint and to hire a team in operations, sales and engineering to help support the initial product. With a growing team of more than 70+ employees, Superorder aims to use the new funding to continue its expansion.

To learn more about Superorder, please visit https://www.superorder.com

About Superorder:

Founded in 2019, Superorder provides an all-in-one software platform that gives restaurants the tools needed to drive profitability from delivery and takeout with virtual brands. Superorders solutions also help operators run smoother shifts with order management, automate their marketing and manage their financials more effectively. With Superorder, restaurants can easily capitalize on the increasingly growing delivery and takeout market.

Headquartered in New York City, Superorder currently operates in over 180 cities across the United States and has partnered with more than 1,500 restaurants, facilitating upwards of 1.5 million orders. In 2021, Superorder announced it raised $2.5 million in an initial seed round, and in 2023 announced a Series A and angel round of $10 million, accumulating a total raise of $12.5 million. Superorder is backed by prominent investors, including Foundation Capital, Y Combinator, Floodgate, Slow Ventures, and SV Angel, as well as a roster of influential angel investors including Michael Seibel (Managing Director of YC), Jon Swanson (Chairman of Thumbtack), Ram Shriram and many more. For more information, visit www.superorder.com.

Contact Details

Superorder

Zak Hawke

+1 717-756-7536

[email protected]

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Superorder

COMTEX_440288880/2655/2023-09-15T15:59:48