Instacart snaps up catering software venture FoodStorm
Instacart has announced the acquisition of FoodStorm, a SaaS order management system that powers end-to-end order ahead and catering services for grocery retailers.
Financial terms of the deal were not disclosed.
FoodStorm was founded 14 years ago and has developed partnerships with a number of Instacart’s retail partners including Albertsons Companies banners Balducci’s and Kings Food Markets, as well as Bi-Rite Market, Mollie Stone’s Markets, Uncle Giuseppe’s and Roche Brothers Supermarkets.
Instacart, which earlier this year was valued at $39 billion after a mega funding round, will now make its technology available to more retailers by integrating it into its enterprise grocery e-commerce solutions.
“As a retailer enablement platform, Instacart is focused on growing our partners’ businesses by investing in innovative new technologies and services that deliver significant value to them and their customers,” says Mark Schaaf, Chief Technology Officer, Instacart.
“Our goal is to help our retail partners increase their sales and ensure more of their customers’ everyday meals come from the grocery store.”
“That’s why we’re excited to welcome the talented FoodStorm team to Instacart and integrate their end-to-end order ahead and catering platform into our leading enterprise offering.”
“For retailers, this new enterprise solution helps them bring even more of their inventory online, enhance their e-commerce capabilities, grow their business and meet the evolving needs of their customers.”
“And, for customers, this unlocks a healthier, more affordable alternative to restaurant delivery, creating an easier way for people to order prepared foods online directly from their favourite grocers.”
"I’m incredibly proud of what the FoodStorm team has achieved for our partners. We’ve developed market leading software that makes it easier for grocers to execute on prepared food and catering orders more efficiently, and track everything from one central location,” says FoodStorm CEO Rob Hill.
“This is a huge growth opportunity for grocers, and we’ve seen increased demand for our products as more customers are searching for seamless online and in-store ordering capabilities.”
“Grocery is an incredibly complex retail category, making the need for enterprise grade solutions like FoodStorm and Instacart critical to the long-term success of the industry we all rely on to put food on our tables.”
“We’re excited about this next chapter as we join the Instacart team and create new ways for retailers to serve the ever changing needs of their businesses and customers."
“Delivering a world class customer experience and excellent prepared foods is the mission of our business, and FoodStorm and Instacart have helped us do just that,” says Russell McVeigh, Catering Director at Uncle Giuseppe’s Marketplace.
“Once we deployed FoodStorm’s technology, online sales doubled and we were able to be more innovative with our menus because of the increased visibility FoodStorm’s platform provides.”
“Both FoodStorm and Instacart have been critical to our growth and ability to serve our customers, and we’re excited to see what compelling enterprise products they’ll develop together.”
