Yummly, the online recipe recommendation and food delivery service has raised $15 million in a new round of funding led by Bauer Venture Partners that values the company at $100 million.
Yummly’s raise comes at a time when venture investors of all stripes are trying to book reservations at the board tables of startups that are involved in any part of the food business.
According to CB Insights, food startups have raised more than $750 million this year alone and the category is on track to pass the billion-dollar peak that it hit just last year.
Redwood City, Calif.-based Yummly is one of a number of companies riding this wave. The startup’s business takes recipes submitted by users and then suggests other types of foods or recipes that those users might like.
Through an integration with Instacart (the big gorilla in grocery delivery) Yummly users can now place orders to have ingredients for their recipes delivered on demand, according to a company spokeswoman.
With the $15 million in new money from Bauer Venture Partners and previous investors Physic Ventures and Unilever Ventures the company hopes to expand its product line and enter into new partnerships, according to a spokeswoman.
As a result of the investment, Sven-Olof Reimers, the president of Bauer Venture Partners will take a seat on the company’s board of directors.
Additional investors in the company include First Round Capital, Harrison Metal Capital, and Intel Capital, according to the company.
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