Investment firm Tiger Global Management has invested €40m in Flipdish, an Irish food ordering software developer.
Founded by brothers Conor and James McCarthy in 2015, the company's revenue has increased ten fold since its funding round in 2018.
It said the increased number of restaurant owners bringing their online orders in-house during the pandemic, has been a major driver behind its recent growth.
Conor McCarthy, Co-Founder and CEO of Flipdish, said this €40m investment will enable Flipdish to grow internationally and attract new customers from independents to large food chains.
"Flipdish’s mission is to protect and power a diverse, independent food sector, and every cent of this investment will go towards realising that goal," he said.
Tiger Global Management is an investment firm focused on global internet, software, consumer-tech and fin-tech companies.
Its previous early-stage investments include Facebook, LinkedIn, Uber, Airbnb, Peloton, Stripe and Flipkart.
"The investment fits our strategy of investing in high quality companies that are benefiting from powerful secular growth trends and are led by excellent management teams," said John Curtius, Partner at Tiger Global Management.
Flipdish is headquartered in Dublin and operates in 15 countries including the UK, US, France and Germany.
Yamamori, Wowburger and Eddie Rockets are among the food service providers that use the technology.
Mr McCarthy said it is not just the hospitality industry that can benefit from the service.
"Cinemas, stadia and airports are just a few examples of places that will be deploying our technology to keep consumers well-fed and safe," he added.
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