The company will begin rolling out its
AI-enabled commerce platform, offering distributors and restaurants
tools to enhance purchasing efficiency, analytics, and
profitability.
SAN
FRANCISCO, June 18, 2024 /PRNewswire/ -- Cheetah
Technologies, a restaurant and food distribution commerce platform,
announced today the sale of their physical distribution business
based in Pleasanton, CA, to
Paul Jensen, 2nd generation owner of
Palo Alto Foods. The company will be focused on bringing the
technology that allowed them to scale their distribution business
to the entire industry. With its features like digital product
catalogs, personalized insights and recommendations, integrated
payment processing, routing management, automated inventory
tracking through point-of-sale integration and in-app support, the
platform drastically increases profitability and efficiency of
distributors, while lowering the carbon footprint.
"We built our restaurant application and distribution commerce
platform to support our distribution business," said Kim Spalding, CEO of Cheetah. "We saw firsthand
how our platform upleveled our own customer experience and drove
unprecedented NPS scores - 58 - in an industry that often averages
NPS scores around 10. Over the last decade, the front of house of
this industry has been digitized, while the back of house has
remained unchanged. The food supply space, which is the largest
portion of restaurant back of house, is a $400B opportunity. This is a larger opportunity
than restaurant front of house which has produced more than
$70B in market cap for disruptive
start-ups. We're going to seize that opportunity."
Spalding, who had an illustrious career at Google, Starbucks,
& McKinsey, joined the company in 2023 and with the support of
the board, pivoted to commercializing their technology. She
recently closed on an additional $14
million in funding and focused on vertical SaaS for the
restaurant supply. "I'm excited to be scaling our AI-enabled
distributor platform," said Spalding. "Our decision to sell our
physical distribution business to Paul
Jensen was an easy one, as he's a strong operator and
trusted partner. We are now focused on scaling our platform into
this exciting market and building expansions that will digitize
additional workflows for distributors, restaurants and
manufacturers."
Paul Jensen, CEO of Palo Alto
Foods, considered a pioneer in the adoption and celebration of
organic products, said, "This is the best of both worlds. I get to
continue to do what I have loved my entire career: helping
independent restaurants succeed, but now with an even greater
platform. With their new focus, Cheetah's technology won't just be
an irreplaceable asset for my business, but will be an absolute
game-changer for the entire foodservice industry."
Palo Alto Foods is a business Jensen's father started more than
40 years ago and began as a humble seller of local eggs. Jensen
added, "As kids, my brother Eric and I worked side by side with him
before eventually taking over the company. I can remember the
landscape of Silicon Valley in a very different way. We've been
fortunate to successfully grow with our customers, such as Google,
Pixar, and Stanford Hospital, over the years. We are ecstatic about
taking our business to the next level with this deal."
The last shipment out of the Cheetah warehouse will be its
software.
Distributors interested in more information please contact
Cheetah Technologies' Co-Founder Christopher Elliott,
chris@gocheetah.com
About Cheetah
Cheetah launched 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 technology industry veterans,
engineers, data scientists, supply chain and logistics experts, and
innovators who have come together to help restaurateurs,
distributors, and manufacturers thrive.
For more information on Cheetah, please contact
press@gocheetah.com
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SOURCE Cheetah Technologies