Press Release: Harvard Common Press Announces Successful $13MM Series A Funding of Caviar
Boston, MA - The Harvard Common Press announced this week the successful close of a Series A round of funding for one of its portfolio companies, Caviar (http://www.trycaviar.com), a startup that powers takeout delivery for restaurant partners across the country. The $13MM Series A raise will allow them to continue to expand their operations across the country, sign-on new restaurant partners and further develop their team.
'We're extremely pleased about the funding news from Caviar," said Harvard Common Press President, Bruce Shaw. "Not only does it provide significant runway for future milestone achievement, but it also proves out our thesis around the investments we've made, namely that the food space is undergoing enormous change, brought on by digital technology, which will have huge benefits for consumers, businesses, and service providers."
Founded in 2012 and based in San Francisco, Caviar has since expanded to include delivery in Seattle and NYC, with takeout from well-known establishments including Han Dynasty, Katz's Delicatessen, Momofuku Ssam Bar, Barbacco, Ramen Underground, and others. The company provides an online portal for ordering, payment, and order tracking via GPS, so consumers will know exactly when their food is due to arrive.
"Caviar represents a new wave of foodtech innovation, which brings together innovative digital platforms with great food," said Adam Salomone, Associate Publisher of Harvard Common Press. "As consumers become more demanding and discerning about what they want to eat, companies like Caviar are there to fill that need."
About Harvard Common Press
Founded in 1976, The Harvard Common Press has grown into one of the leading independent publishers of cookbooks in the country. Based in Boston, the company has many award-winning and bestselling cookbook titles including Smoke & Spice, the Not Your Mother's appliance cookery series, Bread Lover's Bread Machine Cookbook, and more. Over the past 4 years, the company has expanded its strategic initiatives to focus on investing in food startups. Their portfolio currently includes three companies; Yummly, an intelligent recipe search engine; Caviar, which powers takeout delivery for restaurants that don't have their own drivers; and Crowdly, a social media monitoring engine for large brands. In mid-2013, The Harvard Common Press also spun off a separate initiative out of their office space, The Food Loft, a co-working space for food startups, which currently houses eight separate companies and over 20 entrepreneurs.