Chewse – an online catering service for office workers with tastiest meal programs has raised another $7.3M in Series B funding round led again by Foundry Group, with participation from Galvanize, Telegraph Hill Capital and Rocketship VC. The good news is, Chewse has become profitable after years of hard work and now serving San Francisco, the East Bay and also Los Angeles where the CEO of Chewse, Tracy Lawrence also won USC Stevens Student Innovator Showcase Award 2010 for Best Business Concept. This new funding would really help Chewse (often called as a Love Company by Tracy) to share its love with customers in more cities through its food and service.
Chewse became a Zillionize portfolio startup around three years ago and after an year they raised $5.9M in Series A round. With current Series B round, they have raised $15M in total by now. We are very happy for Chewse with their growth and wish them for the great success ahead.
Chewse is that rare example of a company that has flown under the radar while building a sustainable business, and finally believes it’s ready to take its service into other markets.
Over the last 16 months — the company has tripled sales and increased its margins by 50 percent, all while operating just in San Francisco.
After spending several years refining its playbook, the company re-launched service in Los Angeles yesterday. It’s the city founder and CEO Tracy Lawrence first launched the business from back in 2012, but Chewse retrenched in September 2015 as it raised money and got back to fundamentals. But now that it’s figured out a sustainable business model, Chewse is ready to prove itself in this new (old) market.
Please read full story at TechCrunch.