By Kim Teo, CEO and Co-founder of Mr Yum.
Earlier today, we announced our $11m post-seed investment round. I’m so damn proud of the team for scaling up Mr Yum to become the leading platform it is today, and am even more excited to think that we’re only just getting started.
When Kerry, Adrian, Andrei and I founded Mr Yum in late 2018, everyone thought we were crazy to be adding QR codes to printed menus. Everyone thought QR codes were dead, so we had to add detailed instructions on the menus on how to hold your camera over the code to launch Mr Yum. Startups are all about making big, contrarian bets - we’re glad (and a little relieved) this one paid off! 🤣
This capital raise is great validation for what we’re building - though at our core, we measure our success by how much we help our customers grow by focusing on building exceptional, innovative features well ahead of other products. Dreaming up how we can make the consumer experience 10x better and a more sustainable business model for venues is what we obsess about - and this fresh funding will allow us to execute on more of our crazy ideas! We’re also excited about adding more new verticals than ever before - airports, stadiums, festivals and shopping centres.
Looking forward this year, our team (now 65 full-time and growing fast) will triple-down on both growth and supporting the 1000+ venues we work with in Australia & New Zealand, while also scaling our global presence in the US and UK.
We’re so grateful to have an amazing group of investors on our team who have blown us away with their big thinking, constructive support and valuable introductions. This post-seed investment round was led by TEN13, with Stew Glynn joining our board:
"We're very excited to support a quality team like Mr Yum and their ambitious plans. Plus, our significant syndicate investor support is a credit to the potential of the company - its great culture, exciting product and growth of the business," shared Stew Glynn of TEN13.
Sydney VC firm, AirTree, took the other major position in the round:
AirTree Partner James Cameron commented “We’re thrilled to partner with the Mr Yum team to support the evolution of the hospitality and entertainment industry. Mr Yum is one of the fastest growing startups we’ve ever worked with. And, what’s more impressive is that the majority of that growth has come from organic, word of mouth acquisition. This is what happens when you build a product that makes businesses more profitable, but also makes their customers rave about the experience to their friends.”
We’ve been strategic in choosing investors who have a proven track record for global expansion. On top of TEN13 and AirTree, our partners are highly respected hospitality, entertainment and tech leaders.” These include Australian Venue Co, Myles Munro and Daragh Kan from 100 Burgers Group, Untitled Group (Australia's largest independently-owned music and events company), UNIFIED Music Group (Artist Management, Record Labels, Merchandising, Touring and Publishing), Patty Mills (NBA star), Linktree founders Anthony Zaccaria, Alex Zaccaria and Nick Humphreys, Andrew Banks (Shark Tank), acclaimed angel investor Matt Allen and electronic dance act, Rüfüs Du Sol.
These partners bring a breadth of experience and connections that will only make our team and product better.
We’re proud of our Aussie roots and Melbourne HQ, and this funding round opens doors for us to hire the top talent to build the future-state of Mr Yum. There’s a long (exciting) list of roles here on our new careers page, and I’d love to meet anyone in your network who has our same passion for the industry.
See more coverage of this announcement here.