Several NBA, NFL Players Invest In Catering Company Hungry’s Series C1 Funding Round

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Several professional athletes recently participated in a $10 million Series C1 funding round for Hungry, a food technology startup that primarily partners with chefs and restaurants to cater corporate dining and events.

“Given the broader environment, we were happy with ,” Jeff Grass, Hungry’s chief executive and co-founder, said in an interview. “I keep hearing step ups in valuations right now are almost unheard of. It wasn’t quite as big of a percentage increase as we’ve seen in our previous rounds, but it was still a nice healthy step up. We feel very fortunate and excited about it. It lets those new investors all get a good deal, too.

Over the following year, Hungry pivoted to creating an online events business where companies could hire chefs and have them perform cooking demonstrations for their employees as a fun, team-building exercise or for their clients as a way to entertain them. Hungry also got into the logistics and delivery space, partnering with meal preparation companies.

Hungry generates most of its revenue from its core catering business with recurring daily or weekly lunches accounting for about two-thirds of sales and one-off events accounting for the remaining one-third. The company has about 500 chefs and restaurants on its marketplace, which local businesses can use to coordinate food for their employees.

 

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