Chow Now is a startup that caters to those who are looking for food ordering service through online means. In its Series B round, the company was able to gather $20 million from its major investor which is the Catalyst Investors. After this round, the total funds they now have reached almost $40 million. This is necessary as the food service industry is not a cheap venture with owners having to employ restaurant online ordering service to make daily tasks easier.
According to Chris Webb, the CEO of Chow Now, they are excited with the new venture with Catalyst because this is also the same company that is responsible for creating Mind body.
Mind body is a business that specializes in white-label service with regards to health and wellness. It was launched to the public two years ago. One of the early investor in the business is Catalyst and it is also their major shareholder.
Webb said that the venture is quite different but they have a common goal which is to create software that will be used by small players in the business. They think that their software is the best fit there is.
ChowNow also has a mobile app, the first under their brand. The goal of the app is to help customers who are looking to discover new restaurants. Webb said that it is basically a software that matches the customers to the restaurants that they would likely visit. He also explained that many restaurants are aiming to do an expansion in order to reach more customers while customers who make use of ChowNow are more inclined to order from other restaurants that uses the same application.
Webb said that they are essential to restaurants because of the new customers they attract. They will earn a fee for bringing in first time diners but after that they will be loyal to the restaurant if they like it.
Restaurants will only have to pay Chow Now for the first order of a particular customer but succeeding orders will be free. This is a step in the right direction for food establishments aside from availing restaurant online ordering software which is essential to make management more efficient.