New York-based Checkmate, which is a platform that helps small & medium sized restaurants to integrate with multiple online ordering plaforms, has closed a $3 million Series A investment round led by Tiger Global Management.Checkmate is a U.S.-Indian startup founded in 2016 by Vishal Agarwal, a Delhi University alumnus (B.Com – Hons). Checkmate integrates orders coming from various online ordering sources such as UberEats, GrubHub, Caviar, Delivery.com, and Ritual directly to the POS systems, including Brink, Toast, and Revel, among others.
The funding comes within a few weeks after Tiger Global has raised $3.75 billion in its latest venture capital fund named as ‘Tiger Global Private Investment Partners XI‘, touted as one of the largest fundraisings of its kind in 2018.
Initially started as a bill-splitting app, Checkmate currently solves a peculiar problem of restaurants wherein food orders from various online ordering platforms and delivery services are received by restaurants on separate tablets and must be manually entered into the restaurant’s POS system.
With Checkmate, all orders from all platforms are streamlined by automatically confirming and entering into a single POS system – and they print out automatically on the same kitchen printer as the restaurant’s walk-in orders. Checkmate currently works with a number of national restaurant brands, including Five Guys, a fastest growing fast-food chain in the US.
Checkmate integrates multiple online ordering sources such as UberEats, GrubHub, Caviar, DoorDash, Delivery.com, Ritual and many others directly to restaurant POS systems including Brink, Toast, and Revel at a flat monthly pricing.
Although the platform is not operational for restaurants in India, Checkmate do has its base in India as its operations and tech team of 25 is located in its India office.
Previously working with e-commerce company Choxi.com, Vishal Agarwal, who’s also the CEO of Checkmate, plans to utilize the freshly raised funds in doubling down on its R&D, and in particular more platforms for integrations, by using this Series A raise for hiring.
said, “We are very honored to have the backing of Tiger Global Management and believe we can grow rapidly as the volume of online orders is only going to grow, and we can help restaurants massively streamline their orders from these sources at a fixed cost.”
“As restaurants streamline their operations to take advantage of rapidly increasing online orders, we expect hundreds of thousands of restaurants to benefit from Checkmate’s unique solution,” said Scott Shleifer, Partner, Tiger Global Management.