It has never been easier to have food brought to one’s home or place of business. With numerous food delivery apps and websites available, consumers have a variety of foods and services to choose from. Startup company Valet recently secured $500,000 in pre-seed funding to build out its white-glove catering platform and luxury food delivery service.
Fueling Up for Business Launch
Funding for the startup business was led by venture capital firm Pareto Holdings. Valet joins Pareto’s existing portfolio of companies, which includes Goody, Smartrr, and AgelessRX.
“Valet is bringing catering and personal services to industries with high demand and dismal current options,” said Jon Oringer, managing partner at Pareto Holdings and founder at Shutterstock. “The time is right for a disruptive company to completely redefine and own this space. Pareto is excited to partner with Valet on their journey.”
Valet will use the newest business funding to help launch its catering company into new US markets, acquire new customers for its business, and refine its product offerings based on feedback from Beta users. Additionally, the startup company plans to use a portion of the new funds to expand its business team.
Luxury Catering for High-End Experiences
Entrepreneur Greg Rothman founded the white-glove catering startup in an effort to provide customers with a fine dining experience anywhere they need. The luxury catering business is specifically targeting audiences in the private travel industry, in addition to providing services for corporate events and dinner parties.
“We launched Valet to fix a recurring problem for individuals and institutions that were getting back to normal and meeting in group settings,” Rothman said. “The common thread was that various groups of people required hyper-personalized, concierge-like solutions for varying tastes and needs but lacked a single tool to turn to.”
Using an online ordering system, users provide the delivery startup with details for their event like the date, time, and location. Event organizers can then send digital links to their attendees, which will allow them to personalize their food orders for the occasion. The platform also allows event organizers to set spending limits for each of their guests.
The luxury catering business plans to offer products from “world-renowned restaurants” and “unique service providers.” Its goal is to enhance its customers’ special events or private travels, whether they are on a yacht or a private flight.
Breaking Into the Growing Catering Industry
According to market research firm Technavio, the global catering services market is expected to grow by over $187 billion from 2020 to 2024. As the world opens up to travel and public events again, many companies will have an opportunity to take advantage of the growing demand for concierge and food delivery services. The delivery startup company plans to do just that, in addition to offering a luxury experience for its customers.
Valet attempts to set itself apart from the competition by offering a white-glove delivery service to not only corporate events and traditional dinner parties but also private flights and yachts. The company has an opportunity to forge partnerships with private charters and yacht rental companies that do not currently offer in-house food services.
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.