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Acelerate has raised $14.4M in a Series A funding round from Sequoia Capital after a year of bootstrapping
Acelerate, a software company helping restaurants operate efficiently, has announced the raise of $14.4 million in Series A funding led by Sequoia Capital. Taking the announcement to its LinkedIn handle, the company expressed delight at the investment after a year of bootstrapping.
Alongside the funding, Accelerate also welcomes Ravi Gupta to its Board. George Jacobs, co-founder and CEO of Acelerate, wrote in an official blog, Accelerate’s journey to this Series A.
Mr. Jacobs stressed the traction witnessed by Acelerate, since its first order was processed in late 2019 to more than 7 million orders processed in just over a year later. The company helps restaurants grow their sales by providing a marketplace connecting restaurateurs a centralized place to manage online storefronts.
Acelerate has seen incredible traction with restaurants across the United States partnering with us to capitalize on the soon-to-be $1T ghost kitchen market,George Jacobs, co-founder and CEO of Acelerate
Mr. Jacobs said, adding that the company currently serves thousands of restaurants across the United States, including local independents like The Old Greenwich Social Club in Greenwich, CT to national chains like Applebee’s Bar + Grill in more than 1500 locations.
Acelerate was born to simplify managing online storefronts and to help restaurants increase output by graduating to a many-to-many model whereby one kitchen operates many brands and serves customers through many storefronts. In other words, Acelerate enables existing restaurants to run five brands out of a single kitchen,George Jacobs, co-founder and CEO of Acelerate
TechCrunch reported that Acelerate would be doubling down on building local teams and ensuring that we’re hands-on with our operator and restaurant partners.