Craft Ventures directs $11.5M into culinary recipe tool meez

Restaurant kitchens across the country are also trying to manage customers managing labor shortages. This means it’s important to get new hires up to speed.

Josh Sharkey, Chef, Founder and CEO of maze, a recipe management app for chefs, the company launched in 2020 so that food and beverage professionals can digitally manage and execute the recipe workflow, from creation and costing to organization and training. This training pain is what Sharkey keeps hearing from the kitchens.

“We can immediately see the effect of how they can train much faster than before to make sure that when someone new comes on board, it won’t take them a month, and for some, just a few days,” Sharkey said TechCrunch. “Anecdotally, we’ve had several case studies where there’s almost an 80% reduction in the time it takes to train a new employee because they’ve implemented meez in their organization and now they can just communicate things they need to do.”

Sharkey is not alone: ‚Äč‚Äčother startups such as galley, a food data company, provide their approach to helping this industry. So Galley raised $14.2 million in Series A funding earlier this year to help kitchens with predictive purchasing, smart inventory and accurate food production planning.

We previously profiled meez last January when the company announced a $6.5 million seed round. At that time, the company worked with about 750 clients and grew them to 1,200 kitchens worldwide, including fine dining and fast-casual restaurants, culinary schools, haunted kitchens and catering companies. In addition, there are already tens of thousands of active users.

Now meez is back with new funding, $11.5 million in Series A capital led by Craft Ventures. Craft is joined by Struck Capital, FJ Labs, AME Cloud Ventures, Moving Capital, Max Mullen, Lenny Racicki, Mike Montero, Bobby Lo, Austin Rieff, Louis Berrill, James Beshara, Alison Pickens and the Todd & Rahul Fund.

The new investment gives meez $18 million in total funding. The company didn’t plan to scale up as soon as it did, but as it worked on a partnership that accelerated growth, meez began hitting milestones befitting a Series A company, and Craft Ventures led the round, Sharkey notes.

“It was really just a smart move,” he added. “We were growing fast, we had a lot more customers, and we felt responsible to make sure we could serve them.”

Along with an increased customer base, meez has nearly tripled revenue since the start of the year and has 41 employees. It now also offers a free version of its platform for people to get unlimited recipes and recipe books, recipe sharing and web publishing. Additionally, there are two other paid tiers for Kitchen Teams that start at $49 per month.

Sharkey intends to deploy the new funds across product and engineering teams, marketing and new premium features. For example, chefs will be able to assess how their recipes contribute to the profitability and success of the business and then adjust their menu items based on sales, demand and margin data. In addition, meez is working on a new component aimed at bakers (and chefs who do a lot of R&D) that will help with ingredient percentages.

“In the short term, a universal recipe language is still being created that anyone in the world can use in the middle to store, create, organize and share your recipes,” he added. “The long-term vision is growth and adding more value to overall what’s going on in the business to help them generate more revenue through the prism of their recipes.”

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *