Additional $14M further fuels the company’s growth with a focus on innovation and technology.
SAN FRANCISCO, May 9, 2024 /PRNewswire/ — Cheetah Technologies, a restaurant supply technology and food distribution innovator, officially announced the appointment of their new CEO, technology and operations veteran, Kim Spalding. Over the last several months, Spalding and the Cheetah board collaborated on an additional $14M round of funding, focused on the continued development and scaling of the company’s technology platform.
Spalding comes from esteemed posts at the likes of Google, Starbucks, and McKinsey. Over the past 25 years, she has shown a deep understanding of operational change management, process discipline, and innovative technology solutions to build value for shareholders and drive growth for businesses.
“I’ve been fortunate to work with several companies that have had a tremendous impact on a global scale. Those experiences have prepared me for what could be one of my biggest challenges yet, tackling the food supply chain through technology,” said Spalding. “The challenges facing this industry impact everyone on the planet, daily. Cheetah’s technology was built to improve the entire foodservice industry by offering transparency, structuring and sharing data, and enabling excellent service. With scale, that can positively impact millions of small business owners, employees, and their customers.”
Cheetah’s investors showed their support and excitement for Spalding’s appointment and the business’s trajectory with closing an additional $14M in funding focused on further strengthening their technology platform and its growth opportunity.
“The $400B restaurant supply chain market is fragmented, strife with low NPS scores, and therefore, is in dire need of transformation,” said Charly Mwangi, Partner at Eclipse. “Paired with Cheetah’s technology and density of talent, Kim Spalding brings the experience and operational skills needed to tackle this complex problem. Kim’s appointment and Cheetah’s latest round of funding will help propel the team forward in a meaningful way as they work towards their mission of transforming the foodservice industry.”
“Kim could not be more perfectly positioned for this opportunity, which is why we were eager to participate in another round of financing focused on advancing Cheetah’s technology stack,” added Paul Buser, Co-Founder and co-CEO of Sator Grove. “We believe in spending quality time with quality people on game-changing solutions for customers. Kim and Cheetah check all of those boxes for us.”
Before joining Cheetah, Spalding was the SVP of Ocean Network Strategy & Platforms at Maersk where she led strategic investments in the ocean network and new product innovation. Prior to taking that role, she was the CEO of TradeLens, an enterprise SaaS start-up backed by IBM and Maersk to provide secure supply chain visibility using blockchain technology. Spalding served as the General Manager of Ads for Local Businesses and Emerging Markets at Google (2015-2022), including Travel Ads, Local Services, and Maps Monetization. She also served as a VP of Global Coffee and various operations and product roles at Starbucks, including the introduction of mobile payment on the Starbucks App.
Spalding’s history is a legacy of successful operations, winning businesses, and market-leading brands. She brings a wealth of experience and vision to Cheetah’s mission of transforming the foodservice industry through digitization and data visualization.
About Cheetah
Cheetah is the first restaurant supply app, providing the simplest, most affordable way for restaurants to get their daily supplies. Cheetah’s technology was developed to solve the complex issues facing foodservice distribution including supply chain management, logistics optimization, data analytics, and purchasing algorithms which enhance efficiency and profitability for every partner in the channel. Proprietary solutions connect multiple supply-side systems with in-house sales software bringing a lean, efficient, and reliable approach to the foodservice ecosystem. This software reduces the time & labor needed to place & process orders while minimizing food waste.
Cheetah is founded and run by food industry veterans, supply chain and logistics experts, chefs, engineers, data scientists, and innovators who have come together to help restaurateurs, distributors, and manufacturers thrive.
For more information on Cheetah, please contact [email protected]
About Eclipse Ventures
With over $4 billion in assets under management and a team of investors with deep operating expertise in technology, manufacturing, supply chain, logistics, healthcare, and consumer products, Eclipse is a leading U.S. venture capital firm. Its leadership team has the experience necessary to create and scale complex operations. Eclipse partners with exceptional companies that make physical industries more efficient, resilient, and profitable. For more information, visit www.eclipse.vc.
About Sator Grove
Sator Grove Holdings is a private holding company based in Bradenton, Florida. With a vision to create a thriving ecosystem rooted in love and centered upon excellence in company building, Sator Grove does this by providing enduring capital and anything else it can to enable its partners to achieve their full potential. In doing so, they seek to invert the traditional relationship between shareholders and companies. The essence of Sator Grove is first a flourishing community that seeks to do good together and second an investment firm. Sator Grove’s shareholders include numerous world-class company CEOs and investors, and together, Sator Grove’s aim is to ‘sow good seeds’ that grow into win-win outcomes for all constituents, including society and future generations. For more information, visit www.satorgrove.com
SOURCE Cheetah Technologies
