Madison-based food delivery startup EatStreet Inc. is raising a new equity funding round of up to $12 million, according to a new SEC filing.
EatStreet has so far raised $6.1 million from eight investors since the offering began Oct. 9, the filing says. The proceeds of the funding round are to be used for general corporate purposes.
The fast-growing company has previously raised approximately $36.6 million in debt and equity in six funding rounds, according to SEC documents.
In November 2017, EatStreet co-founders Matt Howard and Alex Wyler were named to the Forbes 30 Under 30 list. EatStreet, which was founded in 2010 and partners with restaurants to provide mobile ordering and delivery service, has expanded to more than 15,000 restaurants in 250 cities.
“This new investment allows EatStreet to continue to grow as we launch our delivery service in cities throughout the Midwest, including some markets we’ll announce next week,” said Matt Howard, co-founder and chief executive officer of EatStreet. “The funds will support a number of efforts, from operations to driver recruitment and marketing to ongoing product development – all of which will be focused on ensuring our customers and restaurants get the best delivery experience possible as we expand.”