What is MealPal?
MealPal offers a distinctive meal subscription service designed to provide users with access to a wide array of lunches from premier city restaurants at reduced prices. The service caters particularly to hybrid workers seeking both convenience and cost savings for their daily meals. Operating across the U.S. and Canada, MealPal enables customers to bypass queues and economize on their midday meals, while also fostering partnerships with restaurants to diversify food choices for its user community. The company's model addresses the evolving needs of urban professionals for accessible and affordable dining options.
How much funding has MealPal raised?
MealPal has raised a total of $37.7M across 4 funding rounds:
Series A
$15M
Series B
$20M
Debt
$1M
Debt
$1.7M
Series A (2017): $15M with participation from NextView Ventures, Comcast Ventures, Teamworthy Ventures, and Bessemer Venture Partners
Series B (2017): $20M led by Bessemer Venture Partners and Menlo Ventures
Debt (2020): $1M supported by PPP
Debt (2021): $1.7M featuring PPP
Key Investors in MealPal
Comcast Ventures
Comcast Ventures, founded in 1999, is the venture capital affiliate of Comcast Corporation. Based in North America with offices in San Francisco, New York, Philadelphia, and Los Angeles, the firm focuses on investing in consumer, enterprise, and frontier technology companies.
Teamworthy Ventures
Teamworthy Ventures is a venture capital firm dedicated to building long-term relationships with talented entrepreneurs and investing in their ventures at various stages, including seed, early, and growth. The firm primarily focuses on software and software-enabled services companies.
Bessemer Venture Partners
Bessemer Venture Partners (Bessemer) is a venture capital firm. The firm has offices in San Francisco, Redwood City, New York City, Boston, Israel, and India. It was established in 1911 as Bessemer Securities.
What's next for MealPal?
The recent major strategic investment in MealPal signals a pivotal phase for the company, likely focused on expanding its operational footprint, enhancing its technological infrastructure, and potentially exploring new market segments or service offerings. This infusion of capital is expected to fuel further development and solidify its competitive advantage in the food-tech and subscription service industries. The company's trajectory suggests a strategic push towards scaling its operations and deepening its market penetration, leveraging its established network of restaurants and user base.
See full MealPal company page
