We’re thrilled to announce Mr Yum’s $89M Series A funding round. It’s a massive milestone for the company.
This is the third-largest Series A in Australian history, but, more importantly to us, it’s the largest Australian Series A for a female-led company.
This funding will turbo-charge our growth plans for Australia, the UK and US. It will allow us to triple down on our global lead on product innovation, to invest in our growing team around the world and continue to provide the best customer service to our hospitality and entertainment venue partners.
This investment was led by US firm Tiger Global, one of the world’s biggest VC funds.
Investors in the round also include Skip Capital (the private fund of Atlassian co-founder Scott Farquhar and Kim Jackson), Tennis Australia’s Wildcard Ventures, Broadsheet founder Nick Shelton and Kogan founder Ruslan Kogan. Existing investors TEN13 and AirTree also followed-on in this round, making their largest investments to date into the company.
This Series A follows our Post-Seed round in April 2021, bringing the total funding raised to more than $100M.
Our new partners share our vision to create the most powerful growth toolkit for hospitality and entertainment venues in the world.
CEO and co-founder Kim Teo says the funding round will allow Mr Yum to help cement the post-pandemic recovery and trajectory of the hospitality and entertainment industries around the world.
“We couldn’t be more excited about the new partners that have joined our crusade,” she says.
“Restaurants, hospitality and entertainment venues are embracing technology more than ever and our focus is building best-in-class tools to help them grow.”
Tiger Global partner John Curtius says the company is thrilled to lead the Series A round to support Mr Yum continue scaling globally.
“Tiger Global is heavily invested in restaurant technology around the world. We understand the category and players well and Mr Yum is the clear leader in product innovation for mobile ordering and payments,” he says.
TEN13 managing partner and Mr Yum board member Stew Glynn says the team is excited to invest in Mr Yum for the third time - and with their biggest check to date.
AirTree partner James Cameron says it’s rare to see consumers adopt a new behaviour as quickly as they have with Mr Yum’s products.
“Their QR codes have now become ubiquitous in Australia, and it's happened pretty much overnight. They're now helping hospitality venues all over the country bounce back from a very tough period through COVID, and with this new funding they are able to double down on their international markets, where they are already growing faster than they were in Australia,” he says.
Skip Capital founder Kim Jackson says: “Mr Yum has created an ordering experience that delights diners and restaurants alike. Mr Yum is shaping the future of the hospitality industry and we are very excited to be a part of their journey!”
It’s been a huge year for the company.
We launched in the UK and US simultaneously and gained traction at festivals including the famous Henley Regatta and Taste of London in the UK and at some of the hottest venues in the US, including E.P & L.P and Strings of Life in Los Angeles.
In Australia, Mr Yum launched in Sydney and Perth Airports and announced a global-first partnership with Afterpay.
There are now more than 1500 venues using the platform globally along with 13 million users. In our HQ hometown, six in 10 diners have used or heard of Mr Yum and In the past 12 months 44% of Australians have used the platform.
Mr Yum was named 4th in LinkedIn Australia’s 2021 Top Startups List, an annual ranking of the best emerging companies to work for, has been shortlisted for the AFR Best Places to Work and is a four-time finalist in the prestigious 2021 Pause Awards.
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