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Flipdish Valued at More Than $1bn After Latest Funding Round

Irish food-ordering platform FlipDish has raised $100m in new funding, which gives it a valuation of $1.25 billion. That makes it the country’s latest tech unicorn – joining firms like Intercom, Workhuman and Fenergo. A unicorn is a privately held startup company valued at over $1 billion.

The latest funding, led by Tencent, follows a $48.5m investment from Tiger Global Management in February 2021.

Founded by brothers Conor and James McCarthy in 2015, FlipDish allows food businesses take their online ordering systems in-house – rather than having them rely on delivery apps.

The business has seen significant growth since the start of the pandemic.

As part of the investment, FlipDish also announced plans to hire 700 new staff this year.

Flipdish operates in 25 countries including Ireland, France, Germany, Spain, the UK and the US, with thousands of independent restaurant customers as well as brands like Subway, Galeries Lafayette, and Dunnes Stores.

It also works with some of the world’s largest ghost kitchen companies, which partner with the likes of TGI Friday’s and White Castle.

Conor McCarthy, co-founder and CEO of Flipdish, said that digitisation has been transforming the hospitality sector for years, “the ongoing pandemic has further accelerated the trend with hospitality businesses becoming increasingly dependent on digital experiences to attract and retain customers. Our investment will help us to empower more hospitality businesses around the world to grow with the best-in-class technology.”

Conor McCarthy said that if people want to see the future of digital customer experience and food delivery, they should look to China, “Tencent is our ideal partner with its track record of supporting food delivery companies. Armed with Tencent’s insight and experience, Flipdish will be supercharged in 2022.”

Source: RTÉ

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