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Smart Lunches Stirs Up $1.6 Million in Additional Funding

Jun 19 2013 12:00AM

Marketwire

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BOSTON, MA -- (Marketwired) -- 06/19/13 -- Smart Lunches (www.smartlunches.com), one of the Internet's fastest growing e-commerce innovators, bringing nutritious, high-quality meals to children outside of the home, announced today that it closed two transactions that secured over $1.6 million in additional funds. All previous investors, including Boston-based Data Point Capital, Jonathan Kraft, President of The Kraft Group, and Lon Chow, General Partner of Apex Venture Partners in Chicago, participated; new institutional investors joining this round included Menlo Park-based Western Technology Investment and Boston-based Romulus Capital. They were joined by additional angel investors, including Bill Blass, Chairman of Black Wolf Group, and Jennifer Lum, Co-Founder of Adelphic Mobile.

Smart Lunches is coming off an explosive 2012-2013 school year in Greater Boston and Western Massachusetts bringing children fresh, healthy lunches at over 130 partner schools, daycare centers and summer camps, freeing parents from daily school lunch preparation with a few quick clicks. "Even in the hectic final weeks of the school year, several busy schools started offering Smart Lunches for the first time including St. John School in the North End of Boston. Following a short pilot, they are looking forward to working with us in the fall. Now our second summer camp season is underway with 30 partner facilities, more than double our first year, including camps on Cape Cod as well as every Girl Scouts of Eastern Massachusetts day camp," said Emily Green, CEO of Smart Lunches.

"This financing will help us continue to improve on our customers' experience, as well as support aggressive expansion into new regions where we've been encouraged to offer our service," she continued. "We're deep into preparation to launch in another major metropolitan area later this year."

Dave Gravano, Partner with Western Technology Investments, said, "Smart Lunches is solving a real-world problem; packing lunch is a real pain point for busy families like my own. Western Tech backs great teams that execute, so we're pleased to join this team."

Krishna Gupta, Managing Partner of new Smart Lunches investor Romulus Capital, commented, "Romulus partners with companies tackling large opportunities in unique ways. Smart Lunches is quickly building a scalable new way to connect families with convenient nutrition, and we're excited to help build that platform."

Founder and General Partner at Data Point Capital Scott Savitz added: "Smart Lunches has been consistently hitting strong revenue and customer-centric metrics that prove its virtual lunch service will be a game-changer for families, schools and caterers -- making it an easy decision for us to continue as an investor."

About Smart Lunches: Smart Lunches' online ordering brings fun, nutritious high-quality meals to kids while providing great selection and convenience to parents. Smart Lunches is one of New England's fastest growing companies, serving thousands of students each day at schools, daycare centers and camps. Recent winner of Best E-Commerce Innovation from the Massachusetts Innovation & Technology Exchange's Innovation Awards, and a member of the 12 x 12 group of Boston-based startups, Smart Lunches operates www.smartlunches.com and Smart Snax vending machines. The company gives back by sharing a portion of its earnings with its partners and by contributing to other programs to support underprivileged children -- proving great businesses can do great things while having a higher purpose. If your child is not receiving Smart Lunches, please inquire at info@smartlunches.com.



Contact:
Tess Gallagher
Marketing Director
Smart Lunches
tess@smartlunches.com
857-239-9974 ext. 3





Source: Marketwire


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