Congratulations to Cuboh, our 2019 Innovate BC Third Prize and Top Regional Startup winner, for raising $1.6M CAD in their seed round of financing.
Cuboh is a Victoria-based startup that integrates delivery apps such as Uber Eats and Doordash with Point of Sale systems in Restaurants across the U.S. and Canada.
After Y Combinator ’s investment last summer, the startup opened a round participated by Altair Capital, Good News Ventures and Dash40 Ventures. This investment will help the company aggressively expand its sales and marketing operations as well as accelerate product development and push new features to market faster.
This seed round of financing builds on an exceptional year for Cuboh, who saw rapid growth and market momentum surpassing the 1,000 live locations mark, including Pizza Studio, Midici and a vast amount of Ghost Kitchens.
“As a seed round, this investment proves that we found product-fit rather early and we will continue creating great technology. As a matter of fact, investors oversubscribed to this round, as late investment by Dash40 Partners was accepted. They [Dash40] had an expertise and network we just couldn’t pass on.” said Juan Orrego, Cuboh ’s Co-Founder & CEO.
Hans Knapp, Co-Founder at Yaletown Partners and advisor at Cuboh added, “this Investment will enable Cuboh to continue their impressive growth and is well timed with the increasingly diverse revenue growth opportunities the company is seeing”.
“As restaurants get on more delivery apps, we have to deal with an increasing amount of tablets, chargers and modified workflows to make changes or 86 items. This is a big opportunity that is controversial due to commissions, but automation takes every expense away but the food itself. And because they’re online orders, we’re already cutting costs on labour, rent, insurance etc. Making a restaurant operations leaner.” said Silviu Antonescu, Co-owner of Salad Box USA LLC.
Cuboh’s solution includes both software and hardware (namely one tablet) that replaces all other tablets, avoids human error by integrating in real time with the restaurant’s point of sale system and facilitates the restaurant’s presence in an increasing number of apps; driving more profits via the creation of new revenue flows from this digital channel.
Cuboh saves restaurants time and money by consolidating orders from third-party platforms like Skip the Dishes and DoorDash into one integrated app. By bringing all online orders into an integrated hub, restaurants can ditch the hassle of managing multiple food ordering apps and focus on providing a great customer experience.