James Madison Innovations
800 South Main Street, Harrisonburg, VA, 22807, United States
Overview
James Madison Innovations, Inc., a non-profit corporation which helps commercialize intellectual property produced at JMU.
- Total investments
- 2
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Association
- Non Profit
Investment portfolio
- HUNGRY
Participated · Series C · Sep 2021
Hungry operates a food-tech marketplace that sells business food solutions and hosts live and virtual experiences from local chefs and restaurants. The company was founded in 2017 by Eman Pahlavani, Shy Pahlevani and Jeff Grass and is based in Washington, DC. Hungry runs operations across numerous U.S. cities including Atlanta, Austin, Boston, Chicago, Dallas, New York, Los Angeles, Oakland, Philadelphia, Salt Lake City, San Francisco and San Jose. The company recently acquired snacks brand NatureBox. Hungry is valued at $270m and says it will use new funding to drive continued growth and achieve full operational profitability. The product mix centers on marketplace transactions and experiential offerings from local food providers. Hungry is a technology-enabled marketplace that offers curated experiences to groups and businesses across the U.S. Its offerings include catering, chef pop-ups, snack packs, virtual cooking experiences, and food delivery services. The company operates in Philadelphia, Atlanta, Boston, New York City, Austin, Dallas and Los Angeles. Hungry closed a $21M Series C to fund expansion. Management intends to use the capital to accelerate geographic and service-based expansion, beginning with launches in Los Angeles and the San Francisco Bay Area in September. The company positions itself at the intersection of food service and experience-driven corporate offerings. HUNGRY operates a technology-enabled marketplace focused on the $60 billion business and events catering market, offering curated experiences for groups and companies across catering, chef pop-ups, snack packs, virtual cooking and delivery. The company emphasizes diversity, equity and inclusion across its staff and chef network, reporting approximately 73% more minority workers and 111% more minority managers than the average U.S. business; women make up 52% of staff and ~45% of its chef network, with minorities accounting for nearly 64% of that network. HUNGRY says it will leverage new capital from its recent investment to improve hiring and training practices so employees can develop skills and execute at a higher level. The company has donated more than half a million meals and runs Food Solutions programs to reduce waste. HUNGRY has received recognition on lists including Forbes' "America's Best Startup Employers of 2021," Fast Company's "Most Innovative Companies 2021," and Forward Fooding's "FoodTech 500." Founded in 2017, HUNGRY is headquartered in Washington, D.C., with operations in Philadelphia, Atlanta, Boston, New York City, Austin and Dallas. Hungry operates a marketplace that connects businesses with screened independent chefs who cook out of ghost kitchens and have food delivered by Hungry's team. The company has built a network of chefs in Washington, D.C., Philadelphia, Boston, New York and Atlanta and serves customers including Amazon, E-Trade, Microsoft and BCG. Hungry emphasizes a lower cost structure than restaurants while maintaining high-quality dishes produced by top chefs. The startup also runs a charitable program that donates one meal for every two sold and has donated nearly 500,000 meals to date. CEO Jeff Grass and co-founders Eman Pahlavani (COO) and Shy Pahlavani (president) launched the business after working together at their prior startup LiveSafe. The company plans to use new funding to expand into additional markets and aims to be in 23 cities by the end of 2021. Hungry operates a digital marketplace and logistics platform that enables independent chefs to sell cuisines directly to corporate customers and event clients, targeting the $25 billion business and events catering market. The platform features chefs including former White House chefs, Chopped champions, Food Network chefs, and celebrity personal chefs. The company plans to use the new funding to continue investing in its digital marketplace and logistics capabilities and to accelerate expansion into new U.S. markets. Founded in late 2016 by Eman Pahlevani and Shy Pahlevani and led by CEO Jeff Grass, Hungry currently operates in Washington, D.C., and Philadelphia. The company has raised a total of $12.5M to date and intends to deploy capital to drive growth and market penetration.
Team
No current team members are available.