On-demand food delivery has made for a funding bonanza.
From Instacart's latest $220 million round and Blue Apron's $135 million financing in June to the brand new UberEATS, there's a seemingly infinite number of ways to get cash-rich start-ups to bring you food.
One company is trying to prove that there's a leaner way. ZeroCater, which acts as a matchmaker between local food vendors and businesses that want to feed their employees, has raised a mere $1.5 million in its four years on the market.
With that, the San Francisco-based company said on Wednesday that it's facilitated $100 million in sales and is serving tens of thousands of meals per day.
ZeroCater doesn't have its own fleet of delivery people. Rather it takes orders from companies including Google, Nissan and Salesforce.com, and has the taco shop, food truck or barbecue joint on the other end do all the cooking and delivery. ZeroCater takes a cut of every transaction.
Arram Sabeti, who bootstrapped the business for two years before officially launching in 2011, said he gets cold calls from venture capitalists every week looking to invest. He just hasn't found a compelling reason to say yes.