Catalyst portfolio company ChowNow was recognized among dining innovators that are pioneering new ways to reach customers. Over the past couple of years, the restaurant industry was forced to innovate at warp speed to maintain customers amid a global pandemic that stopped indoor dining in its tracks. Many of these innovations are now maturing—and companies like ChowNow are continuing to add even more new features.
Catalyst-backed ChowNow introduced the first of its kind Diner Impact Score, through which diners can see how much money they are saving their local restaurants by choosing to order through ChowNow’s app and website. With the release of this feature, ChowNow continues to help inform diners on a better alternative to other food ordering platforms.
Catalyst portfolio company ChowNow, an online ordering platform, launched “Order Better Network,” a solution that connects restaurants to more than a dozen channels for delivery and takeout orders. Brands on the platform include Google, OpenTable, Yelp and several more. The Order Better Network helps restaurants set up digital storefronts on these social platforms so diners can browse, order and checkout without leaving them. The new offering has shown to grow online sales by an average of 30%.
Catalyst exited its investment in BrightFarms with Cox Enterprises’ acquisition of the indoor farming company and provider of locally grown packaged salads. The move solidifies BrightFarms’ leadership in the indoor agriculture space and provides a strong, stable foundation committed to accelerating growth with partner retailers.
Catalyst portfolio company BrightFarms, the leading grower of indoor leafy greens, announced the formation of BrightLabs, a world-class innovation and research hub launching at its Ohio growing facility. Matt Lingard, PhD, a former Bayer plant scientist with over 15 years of experience working at the intersection of biotechnology and greenhouse science, will lead the BrightLabs team as Vice President of Agriculture and Science.
The North Carolina greenhouse is just the latest chapter in BrightFarms’ vision to be the national leader in local produce.
Catalyst-backed ChowNow is using RingDNA to automatically surface insights about what works in sales calls to better coach its sales staff.
CEO of Catalyst portfolio company BrightFarms, Paul Lightfoot, was named chairman of the USDA Fruit & Vegetable Industry Advisory Committee. A healthy and sustainable food zealot, Lightfoot leads BrightFarms on its mission to provide supermarkets with the freshest, tastiest and most responsibly grown local produce. Through his vision, BrightFarms has created the first national brand of locally grown produce.
BrightFarms has secured more than $100 million in debt and new equity capital to support robust expansion plans. The Series E round of funding was led by Cox Enterprises, which now owns a majority stake in the company, and includes a follow-on investment from growth equity firm Catalyst Investors. BrightFarms will use the funds to invest in its current farms and retail programs and expand its network of regional indoor farms across the U.S.
Catalyst-backed BrightFarms, a leading supplier of locally grown salads for supermarkets, opened a new expansion to its Rochelle, IL greenhouse. The increase in production will support BrightFarms continued growth in the market, including a 34 percent jump in year over year sales with Mariano’s.