SAN FRANCISCO, CA - A certain Netflix docu-series might have created quite the stir around tigers, but here on the West Coast, e-commerce start-up Cheetah is making sure the big-cat behind its namesake is known near and far as the symbol of a rising key grocery player. This week, the company known to be transforming the wholesale food industry successfully closed a $36 million Series B funding round led by Eclipse Ventures.
"The positive feedback from the community has been overwhelming," said Na'ama Moran, Co-Founder and CEO at Cheetah. "This funding allows Cheetah to build on our strong foundation and expand essential services directly to the consumer. Now, we can provide even more people with the food and supplies they need in a safe and cost-effective way, throughout this crisis and beyond. Our purpose has always been to help independent restaurants thrive. Now we are helping communities thrive."
This major wholesale investment will help Cheetah continue to expand its contactless pickup and food delivery services at a time when both are in hot demand. This investment also brings the company's total funding to $66 million since it was founded in 2015.
According to a press release, Cheetah offers transparent pricing to consumers, independent restaurants, and small businesses with next-day, contactless delivery for orders placed through its mobile application. The company then unleashes its fleet of refrigerated trucks to deliver essential grocery goods like fresh produce, snacks, and more.
"This pandemic has shed light on how technology can be used to quickly adapt core services within the food industry like delivery, fulfillment, and supply chains," said Lior Susan, Founder and Managing Partner at Eclipse, who was joined by ICONIQ Capital, Hanaco Ventures, and Floodgate Fund in the Series B funding round. "Cheetah's team has demonstrated agility and ingenuity on behalf of its customers, and the resiliency of building a technology-centric operation. The company's vertical integration and technology stack have enabled it to accommodate changing buyer behavior as food supply chains shifted from a focus on commercial operations to consumer homes."
Cheetah first launched as a wholesale delivery service exclusively for restaurants and small businesses. With the pandemic changing the market, the start-up quickly pivoted its technology foundation to launch its new direct-to-consumer service, Cheetah For Me, in the Bay Area.
How will this rising grocery and wholesale player strengthen supplier relationships on the West Coast? AndNowUKnow will continue to report.
