Marley Spoon attracts $17 mln in Series B funding

Marley Spoon, a recipe kit delivery service, raised $17 million in Series B funding from QD Ventures, Kreos Capital, returning investor Lakestar and others. To date, Marley Spoon has raised a total of $32 million in funding.

The company has also secured up to $44 million in media volume from GMPVC, a company that trades advertising inventory provided by media companies for equity.

PRESS RELEASE

Marley Spoon, the global recipe box delivery service, has raised $17 million in its recent Series B investment round, and has secured up to $44m in media volume from GMPVC, an established media-for-equity fund. To date, Marley Spoon raised in total $32m and up to $44m in additional media volume. With the funding, Marley Spoon plans to expand to the West Coast, opening a new San Francisco-based fulfilment facility.

Founded in 2014 by Fabian Siegel, former CEO of Delivery Hero, and Till Neatby, former Managing Director of restaurant chain MexAttax, Marley Spoon continues to build on the company’s vision of serving delightful, market fresh and easy cooking to people worldwide. The latest funding round includes $17 million raised by QD Ventures, Kreos Capital a NY based hedge fund and existing investors, including Lakestar.

Marley Spoon was launched in Germany and has since set up operations in the U.S., the UK, the Netherlands, Austria, and Australia. Since launching last April, the company has expanded service from the Northeast to the Midwest; the new funding will allow the company to embark on a rapid roll out plan. By March 2016, the service will reach the Southern part of the U.S. and the West Coast. This expansion brings Marley Spoon’s coverage potential to 217 million households across the globe, representing 35% of the world’s GDP.

Fabian Siegel, CEO Marley Spoon – “We have seen a steady growth over the past 18 months in all countries, with the global recipe box market growing significantly. The latest funding will allow Marley Spoon to reach even more people and strengthen our relationships with our existing customers. Given the changed funding environment many startups are facing today, we are delighted to have secured valuable funding, which will facilitate important growth in the company.”

Jennifer Aaronson, Co-founder Marley Spoon, US —“We’re thrilled about the opportunity to serve the West Coast and excited to partner with a wider array of topnotch suppliers and producers. . Our culinary team brings 25 plus years of experience to the Marley Spoon test kitchen, and we can’t wait to bring our smart cooking techniques and seasonally-inspired recipes to many more home cooks.”

Olga Zhilinskaya, QD Ventures “Marley Spoon has a fantastic product and we see huge potential for rapid growth in the coming months as customer demand increases. The numbers to date give us confidence that Marley Spoon will scale efficiently, and we are excited to see the planned changes to the service that will take it to the next level.”

Coinciding with U.S. expansion plans, Marley Spoon will be launching a new membership app in the first quarter of 2016. The app will allow customers and guests to more seamlessly interact with Marley Spoon. Available for both iOS and Android, customers will be able to edit their upcoming orders, maintain their account area, receive product news, and access the full library of recipes.

About Marley Spoon:

Marley Spoon is a recipe kit delivery service that is simplifying healthy home cooking. Customers can choose from two-person or family boxes, with a changing weekly selection of delicious, easy-to-cook recipes. Seasonal ingredients are delivered directly to customers’ doors, with boxes kept cool during transit, guaranteeing freshness when they arrive. Dishes start from $8.90 per meal, including delivery, and customers can plan deliveries based on their schedules.