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Zume Pizza’s Parent Company Raises $350M From SoftBank, Beer Exec Joins Board2 min read

According to regulatory paperwork filed quietly on Thursday around lunchtime, Zume Inc. is raising a ton of cash to take a big slice of the hot pizza delivery market for itself.

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The filings indicate that Zume is targeting a fundraise of $375 million1. According to the Wall Street Journal, which appears to have received exclusive details of the funding round, one investor invested on October 17th of this year. WSJ reports that the deal values Zume at $2.25 billion, although it’s not clear whether that’s pre-money or post.

That lone investor, according to the WSJ, is SoftBank’s Vision Fund, the $100 billion pool of capital funded in large part (approximately 45%) by Saudi Arabia, which has been in the news for the politically-motivated murder of dissident and journalist Jamal Khashoggi. WSJ’s sources indicate that SoftBank intends to invest an additional $375 million into the company at some point in the future.

If fully-closed, this would bring the robotic pizza-making company’s total funding to approximately $398 million, according to Crunchbase. Zume’s last round was a $48 million Series B, recorded by Crunchbase on October 6, 2017.

Today’s filing indicates that the company has added another director—David Kamenetzky—to its board, which now consists of four members:

  • Alex Garden, the company’s co-founder, chairperson, and CEO.
  • Julia Collins, Zume’s co-founder and president
  • Bing Gordon, formerly the chief creative officer at Electronic Arts who joined Kleiner Perkins as a partner in 2008.
  • David Kamenetzky, the chief strategy and external affairs officer at Anheuser-Busch InBev SA/NV, one of the largest alcoholic beverage companies in the world.

Based in Mountain View, CA, Zume uses automation, artificial intelligence, and other technologies to prep, cook, and deliver meals. The company’s first iteration of its technology is a pizza delivery service.

Illustration: Li-Anne Dias

  1. Or $374,999,954, if you want to be really particular about it.

The post Zume Pizza’s Parent Company Raises $350M From SoftBank, Beer Exec Joins Board appeared first on Crunchbase News.

Source: Crunchbase


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