Cheetah Strengthens Its Core Delivery Services by Securing $36 million in Series B Round of Financing

By: Retail CIO Outlook | Thursday, April 30, 2020

Cheetah, a San Francisco-based female-led startup raised $36 million in Series B funding led by Eclipse Ventures, with participation from ICONIQ Capital, Hanaco Ventures, and Floodgate Fund

Fremont, CA: Cheetah, a San Francisco-based female-led startup raised $36 million in Series B funding led by Eclipse Ventures, with participation from ICONIQ Capital, Hanaco Ventures, and Floodgate Fund. This investment brings the company's total funding to $66 million since it was founded in 2015.

"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. "Cheetah's team has demonstrated agility and ingenuity on behalf of their customers, and the resiliency of building a technology-centric operation. The company's vertical integration and technology stack have enabled them to accommodate changing buyer behavior as food supply chains shifted from a focus on commercial operations to consumer homes."

Cheetah is transforming the wholesale food industry, offering transparent pricing to consumers, independent restaurants, and small businesses with next-day, contactless delivery for orders placed through its mobile application. Using its fleet of refrigerated trucks, Cheetah delivers everything from bakery items to beverages, dairy, meat, poultry, seafood, fresh produce, condiments, snacks, and cleaning supplies. Launched initially as a wholesale delivery service for restaurants and small businesses, Cheetah was able to quickly build on its existing technology foundation the week before California's shelter-in-place order, launching a direct-to-consumer service called Cheetah For Me. This unique service gives residents and small businesses in the Bay Area safe access to essential food and supplies at competitive wholesale prices. Consumers order through the mobile app and pick up the next day from one of Cheetah's designated drive-through locations.

"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."