Foodee Media secures Series A1 financing – updated

Foodee Media Inc. has raised $3.97 million in Series A add-on funding from 13 BC, 1 Alberta, 2 Ontario and 10 US investors. Investor names were not disclosed.

The A1 Preferred Shares convert into common shares at the election of the holder or automatically upon: (i) the closing of an IPO of common shares resulting in net proceeds of $25M; or (ii) at such time set by 66 2/3% of the A1 Preferred Shares holders.

In December 2106 and February 2016 in two tranches, Foodee Media Inc. raised $5.81 million led by BDC Capital with participation of Yaletown Venture Partners, Voyager Capital, Structure Capital, Canadian and US family offices and angel investors.

Foodee 5-member board is comprised of Ryan Spong, CEO of Foodee; Jon Cartwright, co-founder & Chairman of Foodee and President of Zolo Ventures; Andrew Lugsdin, Partner of BDC Capital IT Venture Fund; Ryan Holmes, CEO of Hootsuite Media; and Geoff Entress, Venture Partner with Voyager Capital.

Vancouver based Foodee Media is a corporate food delivery service that provides offices with food from the best local restaurants.