Miami-based SupplyCaddy raises $3.2M to combat food service supply chain woes
SupplyCaddy, a Miami-based food service supply manufacturer, raised $3.2 million in seed funding. The round was led by Ceas Investments.
Zachary Stein and Bradley Saveth founded the company in 2020 in response to the supply chain challenges stemming from the global pandemic. SupplyCaddy is a manufacturer and supplier of packaging and disposables for restaurants, chains, and foodservice brands globally.
“Our mission from the beginning was simple – to disrupt the packaging industry in the QSR and fast casual space,” said Stein, SupplyCaddy’s CEO. “By having a multi-pronged manufacturing strategy, with international facilities in Turkey and Mexico, we have unprecedented access to more raw material suppliers, better pricing, and faster lead times, which, in turn, we are able to deliver to our customers,” added Stein, who is also a serial entrepreneur and investor.
The company reports that in less than three years, SupplyCaddy has delivered over 200 million products to clients across the globe, including Carl’s Jr., Hardee’s, Tijuana Flats, Cinnabon, Auntie Anne’s, Huey Magoo’s, Hart House, and Popeyes, one of the world’s largest quick service restaurant chicken concepts with over 2,900 locations.
“Their speed-to-market, ability to produce high-quality and sustainable products coupled with their emphasis on customer service, have given restaurants and foodservice businesses a better, faster, more efficient option,” said Mike Wohl, Chief Investment Officer of CEAS Investments.
SupplyCaddy doubled its growth from 2021 to 2022 and is on track to triple its revenue in 2023, according to the company.
“This round will allow us to continue expanding our distribution channels, make key hires to our executive team and further R&D on future product offerings,” Saveth said.
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