Snackpass, a US app that allows users to order food ahead of time to pickup at local restaurants, has secured $21 million in Series A funding. The round was led by Andreessen Horowitz with participation from First Round, General Catalyst, YCombinator and Inspired Capital, who join angel investors Nas, Larry Fitzgerald and Michael Ovitz in their investment in the company.
Co-founder and CEO Kevin Tan argues that eating is “an inherently social experience” and says that Snackpass’ social feed has solved what other food tech companies have yet to crack – a loyal customer base that returns to the app again and again. The app eliminates the need to wait in line when ordering food to go and also allows users to earn rewards for themselves and to share with friends.
“On Snackpass, we don’t want our platform to be just about the utility of ordering food – we want to make it a magical, social experience for our users. One of our users once tweeted, ‘at Yale we don’t say I love you, we send each other gifts on Snackpass.’
“We’ve been excited to see Snackpass take off fueled by organic growth, and this round of funding will help to scale and reach entirely new markets in the coming months.”
Founded by Tan, COO Jamie Marshall and head of sales Jonathan Cameron at Yale University in 2017, the team has until now bootstrapped the company. They relocated the company in 2019 to San Francisco, where they now plan to use the funds to scale the business to 100 college campuses over the next two years.
Snackpass allows local restaurants and franchise owners to better manage the rush during peak hours, but also give them access to marketing tools and analytics that allow them to reach and retained a more loyal customer base. The startup takes a small percentage of every order.