Catalyst Investors Leads $20 Million Series B Investment in ChowNow
Tyler Newton joins SaaS company’s Board of Directors
Press release: NEW YORK – Growth equity firm Catalyst Investors led a $20 million Series B round of funding for ChowNow, a SaaS ordering platform providing restaurants with online ordering tools and branded mobile apps. Existing investors including Steadfast Venture Capital also participated in the round. Catalyst partner Tyler Newton has joined ChowNow’s Board of Directors.
Founded in 2012, ChowNow enables restaurants to serve their take-out and delivery customers directly through their own websites and white-labeled, native mobile apps. The company works with more than 8,000 restaurants across the country and partners include Apple, Facebook, Google, Squarespace and Yelp.
“ChowNow empowers restaurants to own their customer relationships by offering access via their own websites or native mobile apps. ChowNow offers a high ROI to its customers, has a large greenfield market opportunity and is benefitting from the shift in consumer preference toward digital ordering,” said Newton. “We believe they provide a superior and more affordable solution for restaurants tired of paying ever-increasing commissions to online ordering marketplaces.”
“Our goal is to provide restaurants with the tools needed to compete in an increasingly technical world. We help them get online quickly and easily so they can maintain direct relationships with their diners. While restaurateurs focus on the quality of their food and service, we arm them with the tools needed to compete,” said Chris Webb, CEO of ChowNow. “We believe that Catalyst Investors’ extensive experience growing SaaS companies makes them the ideal investment partner to help us expand our customer base and services.”
About Catalyst Investors
Catalyst Investors is a growth equity firm founded in 2000. Catalyst’s mission is to earn superior returns by helping entrepreneurs build great growth companies. Catalyst employs a rigorous top-down research focus that seeks to identify investment opportunities in companies and industries that will exhibit strong revenue growth. The firm works in true partnership with talented management teams to build long-term value. Past and present Catalyst portfolio companies include SaaS-based businesses (Fusion Risk Management, Jobvite, MessageLabs, MINDBODY), Healthcare IT (Clinicient, PresenceLearning), AdTech/Marketing (Conductor, MediaMath, Videology, WeddingWire) and Internet Infrastructure (InSite Wireless Group, Latisys, Xplornet). For more information, visit www.catalyst.com.
ChowNow is the leading online ordering and marketing platform for restaurants, helping owners and operators stay competitive in an increasingly tech-driven world. ChowNow enables diners to discover great new restaurants nearby and order directly from their websites, Facebook pages, and custom-built iPhone and Android apps. Since 2011, ChowNow works with more than 8,000 restaurants in the United States and Canada. Based in Los Angeles, ChowNow is dedicated to helping restaurants grow their to-go businesses, strengthen customer relationships, and compete with national chains using best-in-class technology. For more information, visit www.chownow.com.