Fast-growing online food ordering and delivery company EatStreet is raising $12 million in equity to support growth.
So far, the Madison-based company has sold $6.09 million of that offering to eight investors, according to a regulatory filing with the U.S. Securities and Exchange Commission.
“This new investment allows EatStreet to continue to grow, as we launch our delivery service in cities throughout the Midwest, including some markets we’ll announce next week,” Matt Howard, CEO and co-founder of EatStreet, said in a statement. “The funds will support a number of efforts, from operations to driver recruitment and marketing to ongoing product development, all of which will be focused on ensuring our customers and restaurants get the best delivery experience possible as we expand.”
In August, the company said it was expanding its food delivery service to 25 restaurants in West Allis and Wauwatosa.
Founded in 2010 by three students from the University of Wisconsin-Madison, EatStreet is active in more than 250 cities nationwide and has more than 1,000 employees. Read the full story here.