The Runway - Updates from India, San Francisco and home in Australia 🌎
Portfolio updates from last few months at TEN13 📧
READ MOREAnnouncing our third investment into Mr Yum. A beautiful QR-Code ordering suite for hospitality.
We joined the Mr Yum rocketship through TEN13 as lead investors in their Seed round in late 2020, and there are so many things to point to that get us excited about what's happened but more importantly, what's ahead. Hence, we're excited to be refuelling the ship, and supporting them for the third time in their recently publicised US$65m Series A.
The Mr Yum team has ambition, move at pace, don't pretend to know it all, keep it real, live their culture, fight for their customers, and are assembling a kick-ass team to change the face of mobile ordering. We're lucky to be part of the journey.
We couldn't be more excited for founders, Kim, Adrian, Kez, and Andrei on what they've achieved so far (2021 has been huge) plus the future ahead with their ambitious plans and now the depth of funding to really invest across product, team, geographic expansion and more. It's been awesome to see these founders and the wider Mr Yum in action.
When talking through Mr Yum's mantras, it's clear that these flow through their culture from the founders down to new hires and can be seen on daily basis:
It's no surprise that with this level of determination and ambition, they were able to gain the attention of some of the world's most internationally renowned growth stage investors. After a competitive fundraising process, we're excited to partner with Tiger Global as the lead investor in their Series A. Apart from being one of the most active VC investors globally, Tiger is also the largest pre-IPO shareholder of Toast ($16.8bn market cap) and Olo ($3.4bn market cap) and are some of the strongest consumer & foodtech investors.
Mr Yum's Series A round is the largest by a female-led company and the third-largest in Australian history (after Judo Bank & Octopus Deploy, according to Crunchbase). This level of commitment is an exceptionally strong & positive signal especially coming from some of the most successful global venture funds and investors.
Armed with a war chest of USD$65m+ (AUD$89m) post this round, Mr Yum is set for its next growth phase and are aggressively setting their ambition towards winning the global mass-market mobile order and payments opportunity within the hospitality industry.
Cofounders reunited in London (L-R) - Kim Teo, Adrian Osman, Kerry Osborn, and Andrei Miulescu
Mr Yum aims to become the global leader in mobile ordering, payments, and growth tools for restaurants and venues globally, bringing the world's best menu ordering experience to customers.
We believe Mr Yum is leading the shift from static printed menus to customised & personalised virtual menus and ordering.
Source: Let CXO and Co-Founder Kerry Osborn talk you through the future of mobile ordering
We are at the beginning of a decade-long shift in the way consumers order and pay for food and drinks.
These market conditions have opened up a massive, global fintech and data opportunity to shift the ordering experience from offline to online.
Mr Yum is a web-based mobile menu, payments, and marketing platform for the hospitality and entertainment industries. Mr Yum integrates with the major POS providers which serve as a distribution channel for the company.
Mr Yum provides its customers with beautiful visual menus, in-venue QR-ordering, delivery / pickup ordering, loyalty offerings, and customer engagement features.
The product includes:
Through these offerings, Mr Yum helps customers:
Check out these videos to see how the product works and action and to hear some customer testimonials:
Venues
The thousands venues onboard each log into Mr Yum to a sophisticated management system where they can review their menu, change their offers, review live orders, input orders ready for distribution, and complete orders in real-time, all in a familiar web browser. No apps or hardware are needed.
With our support and urging on, Kim and Adrian packed up their bags in February of this year and flew to the US to personally execute their US and UK plans. This ambition is paying dividends as they develop core relationships with partners, understand the market dynamics and build solutions that are winning in each market.
In mid-2021, Mr Yum had already identified the UK as a key market to launch in. The UK has a very strong pub culture and a digital menu table-ordering product like Mr Yum was mooted as a natural from a product-market fit standpoint.
The team launched and has been ramping their growth aggressively. Assisted by the tailwinds of UK 'Freedom Day', Mr Yum also partnered with Taste of London, one of the world's largest food festivals, and will be showcasing their offering at the VIP section of the festival in November.
The proceeds of this Series A round will be used to turbocharge Mr Yum's international expansion.
Mr Yum has worked exceptionally hard on building a culture that will attract world-class talent and be a fun and engaging place to work. This is a necessary win condition in today's hyper-competitive hiring market.
Kim shares here on how she thinks about culture. And is being reflected in results such as being named the #4 most exciting startup to work for in Australia.
Their team has grown to 100+ over the last year and will likely double again this year with their growth plans. Here are some of the high-calibre hires who have recently joined the Mr Yum team (welcome!):
And of course, Mr Yum is hiring in bulk, see open positions here and a video on what it's like to be part of Mr Yum below.
We're excited to be fuelling Mr Yum once again. Mobile ordering to the moon 🚀
Thanks for letting us onboard once again - Kim, Adrian, Kez, and Andrei 🙏
Portfolio updates from last few months at TEN13 📧
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