Yummly, the search engine for recipes has announced it securing $15 million in Series B round of funding led by Bauer Venture Partners, the solo investor of the round.
Headquartered at Silicon Valley, Yummly is one of the pioneers in the food discovery platform which uses its patent-pending technology and proprietary data to get to know food and taste better. The intelligent and personal approach to food answers the universal question “What do you want to eat?” The startup has a strong customer retention strategy which ha help it build 10 million registered users and helped growing with 700,000 new users every month. “We are getting most traffic through referral and word of mouth. When people use, it is very memorable,” said Brian Witlin, COO and mobile lead of Yummly.
David Feller, founder and CEO of Yummly said, “Since day one, we have been focused on creating the platform for taste. People have always thought og 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 Yummly’s last round of funding through which it raised $24 million through investors like Physic Ventures, Unilever Corporate Ventures, Harrison Metal Capital, First Round Capital, Intel Capital and The Harvard Common Press, the company has grown exponentially. It launched mobile apps for iOS, Windows and Android and was considered ‘Best of 2014’ by Apple. Also, it joined hands with over 6500 companies through the API and native mobile integration to assist users with everything from groceries to fitness goals. The team at Yummly tripled with women employees occupying 50% across all positions.
With the fresh pumped in, Yummly plans to continue building its world-class team, award-winning products and expanding its service and innovative technology. It also plans to allow its users to place order for the ingredients of the recipe which would be delivered on demand via its partnership with Instacart. Further to the funding, Sven-Olof Reimers who is the president of Bauer Venture Partners and COO of Bauer Xcel Media, has joined Yummly’s board.
“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 Reimers. “Yummly has only scratched the surface in terms of its potential and we are excited to work with their visionary team to help them reach that goal.”