REDWOOD CITY, CA--(Marketwired - Sep 1, 2015) - Yummly (www.yummly.com), the leading food discovery platform, today announced the close of $15 million Series B financing from Bauer Venture Partners (BVP). The investment will be used to continue building its world-class team, award-winning products, and expanding its innovative technology.
"Since day one, we have been focused on creating the platform for taste," said David Feller, CEO and founder of Yummly. "People have always thought of Yummly as the ultimate recipe discovery platform, but our vision is much larger. The key to enabling our products has been sophisticated, patent-pending technology and proprietary taxonomies to understand food. That data & technology can and will be extended to make Yummly the go-to platform to answer the age-old question 'What's for dinner?' -- whether cooking at home or dining out."
Since its last round of funding, Yummly has grown exponentially and achieved several significant milestones:
Reached almost 10M registered users and registering more than 700K new users each month.
Launched mobile apps that have been consistently the #1 recipe apps on iPhone, iPad, Android and Windows, and was named "Best of 2014" by Apple.
Partnered with more than 6,500 companies through our API and native mobile integrations including DuckDuckGo, Instacart, Jawbone, Nutrisystem, United Healthcare and Stanford University to help users with everything from groceries to fitness goals.
Introduced new forms of native advertising that perform 20x better than traditional display advertising for well-known CPG brands.
Tripled the size of the Yummly team, with women accounting for over 50 percent across all positions.
Directly influences almost $200M in annual commerce through its shopping list feature on mobile apps.
"The company's data-driven and top-down approach to understanding a person's taste is enticing to us and we see a vast potential for growth. We value Yummly's vision to become the top of the funnel for food, starting with understanding what the user wants and then delivering smart & useful recipes, products and brands to them." said Sven-Olof Reimers, President of Bauer Venture Partners and COO of Bauer Xcel Media. "Yummly has only scratched the surface in terms of its potential and we're excited to work with their visionary team to help them reach that goal."
The company's Series A financing was led by Physic Ventures and Unilever Ventures.
Yummly is the leading food discovery platform that is using patent-pending technology and proprietary data to understand food and taste. The smart and personal approach to food answers the universal question, "What's for dinner?" Headquartered in the heart of Silicon Valley, Yummly is backed by Bauer Venture Partners, Physic Ventures, Unilever Corporate Ventures, First Round Capital, Harrison Metal Capital, and Intel Capital. Its founding angel investors and advisory board include: Jeff Jordan (partner at Andreessen Horowitz), Bill Cobb (CEO, H&R Block), Justin LaFrance (StumbleUpon), Marcia Hooper and Brad O'Neill (CEO, TechValidate). For more information, visit www.yummly.com