Snackr gobbles up $915K seed
Key Insights:
- The startup was founded in 2019
- The app is a food delivery service that caters to large live event markets
- The app generated a 55% increase in spend per transaction during the first event at Blundstone Arena General Manager
Sport and event food delivery app Snackr has secured a $915K seed funding round backed by venture fund BetterLabs, Woodside Energy, Eastcourt Capital and Spacecubed Ventures.
Co-founded by Matthew Lim (CEO), Grace Tate (COO) and Cale Walsh (Head of Growth) in 2019, Snackr enables users to order food and have it delivered to their seat at stadium and live events.
Therefore, the app operates in a similar space to food delivery services like UberEats and DoorDash, but aims to cater specifically to these large live event markets.
Mr Lim, a massive sport fan said the idea came to him after missing Optus Stadium’s first streaker while waiting in line for drinks.
“I heard the crowd erupt and thought there must be a better way.”
The app has been designed to address the unique challenges associated with catering in such venues – primarily, large volumes of orders in tight timeframes and congested concourses.
Mr Lim said the funds will be used to expand to service more venues across Australia and the UK.
The funds are vital to our growth trajectory and will give us the opportunity to capitalise on the rebounding live events industry and booming last-mile delivery sector.
– Matthew Lim
The raise reflects a global trend towards the safe return to live events amidst COVID-19 and increasing demand for digital technologies dedicated to improving the fan experience.
Success despite Covid
Snackr was first launched at the KFC Big Bash League at Blundstone Arena in December 2020 amidst COVID-19 uncertainty.
Blundstone Arena General Manager, Stephen McMullen saw immediate results including higher spend per head and increased customer satisfaction.
“Before Snackr we were experiencing large lines to concessions – resulting in patrons either not purchasing or only purchasing once.”
Overall, the app generated a 55% increase in spend per transaction, saw 62% of fans place repeat orders and 50% of revenue generated during off-peak times, resulting in a smoother demand curve and more efficient staff utilisation for vendors.
Beyond improving the fan experience and driving revenue, Snackr generates real-time data insights to help operators make informed decisions across inventory, staffing, pricing and promotions.
“Snackr is easy to use and I think it will quickly become an expected service for patrons. It also assists us with COVID-19 compliance so it ticks many boxes,” said Mr McMullen.
Further, the product provides new marketing opportunities for sponsors and rightsholders looking to promote products and activate fans.
Snackr re-signed to operate at the venue for the 2021 AFL season, undertook and graduated from the Plus Eight Accelerator program and signed on a number of new venues in 2021 (including Banana Social and The Block Party in Fremantle).
Original article date: 19 June 2022
