CHICAGO, July 9, 2018 – ChefHero, an online marketplace that enables restaurants to order wholesale produce, meats, artisanal foods, and kitchen supplies through one easy platform, officially launches its first U.S. location in Chicago today. The rapidly expanding startup that saves chefs and their kitchen staff time and money, recently secured $12.6M in Series A funding from investors, including Chicago’s Math Venture Partners.
Unlike national food distributors that cater to major chains, ChefHero will provide smaller chains and individually-owned restaurants and establishments access to hundreds of local Chicago-based producers. Users of the free app will also benefit from significant cost savings with group buying power they would not otherwise experience, as well as the ability to compare and monitor pricing in real time. This saves time spent tirelessly negotiating for the best deal. As well, with ChefHero, tracking orders is just a click away.
“As Chicago continues to build its name as a major culinary epicenter, ChefHero is a welcomed solution for hundreds of local restaurants and suppliers plagued by archaic paper trails and chasing down orders and billings,” said Dana Wright, Managing Director, Math Venture Partners. “The app means they can order 24-hours a day and receive fast, reliable service so they can focus on customers.”
ChefHero was started in Toronto and born out of a need to modernize the food and kitchen supply ordering process. With nearly 800,000 restaurants across North America spending billions of dollars on food and beverage products each year, as well as an industry-wide desire to reduce food costs that account for 30 percent of a restaurants overhead, there is promising runway for ChefHero’s expansion.
For food suppliers, ChefHero reduces or eliminates overhead costs associated with having to pay a front-line sales team. The platform will also act as a gateway to hundreds of new customers and increased earning potential. Suppliers also receive one consolidated on-time payment from ChefHero on behalf of customers so they don’t have to chase payments from individual accounts anymore. They can also unload overstock quickly, as it is actively promoted to prospective customers through the platform in real time.
“Keeping a food supply business running has a lot of moving parts including chasing down new restaurant clients and handling billings,” said Justin Apuli, ChefHero’s Chicago Manager. “Suppliers can find a lot of new business on ChefHero — plus we take care of all of the paperwork.”
ChefHero ChefHero was founded in Toronto by Saif Altimimi and Diego Domínguez Ferrera. Growing up around the produce business, Saif noticed a broken link in how vendors and restaurants were connecting. With the help of Diego, he envisioned a future where chefs could easily leverage technology to access everything they need in one place. The ChefHero team brings this vision to life every day, leaving chefs with more time to do what they love: make incredible food.
Math Ventures MATH Venture Partners is a Chicago-based early to growth-stage fund managed by a seasoned team of hands-on investors and operators. They seek out entrepreneurial teams that have customer acquisition as part of their core DNA. They believe that companies that have an unfair advantage in acquiring and retaining customers will produce outsized returns. It is this maniacal focus, deep appreciation for process and exceptional talent that makes them stand out.