Amid ongoing foodservice supply chain challenges, San Diego-based Galley Solutions raised $14.2m via Series A to help inventory, ingredient and cost platform cloud-based food industry to expand its sales and engineering teams.
This latest funding round was led by Astanor Ventures, an impact investment fund focused on food systems and sustainability. It also included participation from existing investor Zetta Venture Partners.
Galley Solutions markets itself as a food technology software platform that empowers food business operators to make more profitable decisions with clean recipe data, predictive purchasing, smart inventory, and accurate production planning. The software is built on an open API food data model, providing customers with a user interface to make kitchen operations faster and easier, with claims to reduce stress, waste and labor in kitchens.
“Astanor is pleased to support Galley Solutions’ unique approach to driving change by focusing on a diverse set of menu and kitchen efficiencies,” said George Powlick, Partner at Astanor. “Galley’s mission is deeply aligned with Astanor’s to bring about measurable and positive systemic change in the food system.”
“Galley has earned its privileged position in the market. Since the first day, [brothers-in-law] Benji and Ian have leveraged their unique domain expertise to create the only food data platform customers can rely on to power their business, nonstop,” said James Alcorn of Zetta Venture Partners. “Major cloud kitchens that choose Galley, like DoorDash, and restaurant titans, like Aramark, have been rewarded with market share. As a result, Galley’s own business is showing best-in-class revenue growth, retention and profitability. »
An estimated 30-40 billion pounds of food waste is generated each year in restaurants and institutions in the United States, and nearly 10% of all food purchased by restaurants is wasted before it reaches the end customer. Galley Solutions users manage to reduce their food waste by an average of 25%, and 70% report reduced overall stress due to the organizational and efficiency gains created by its software.
“Standardizing food data into a universal language is the next major technology shift changing the way food is planned, prepared and enjoyed across the industry,” said Benji Koltai, co-founder and CEO of Gallery Solutions. “Galley is driving this transformation and the advancements it enables, such as purchasing automation, real-time food costing, collaborative R&D, and streamlined communication between teams and sites.”
Galley Solutions’ subscription revenue grew 280% over the past year, and the first quarter of 2022 saw net dollar retention of 146%. Galley Solutions DoorDash Kitchens, Thistle and &pizza customers. Its clients have collectively raised over $10 billion in funding.
“We are excited to leverage Astanor’s experience as a leader in food sustainability and technology,” said Ian Christopher, co-founder and COO of Galley Solutions. “Together, Galley is better positioned to help more food companies become smarter and more accurate about how they responsibly manage and produce food.”