Foodem


Website: foodem.com
Twitter: @foodem
Facebook: Foodem
Founders: Kash Rehman

Overview

Foodem is an online marketplace that connects food distributors, local farms and specialty food manufacturers with wholesale food buyers, like restaurants, hotels, schools and hospitals. Foodem promotes the increase in local, sustainably-produced, and healthier food choices in restaurants and institutions. Foodem's buyers are purchasing managers from restaurants, hotels, universities, hospitals, government and other commercial kitchens. Buyers search Foodem's website for food products at a competitive price and use the company's online tools to monitor food expenses. Using Foodem, restaurant owners save money by comparing prices of different farmers and distributors. Since the website tracks what a restaurant pays for ingredients, restaurant owners can out how much a dish on their menu costs to make, and whether to scale their purchasing of certain ingredients up or down. Foodem's ordering process and online store helps them attract and retain customers. 

History

Headquartered in Baltimore, Maryland, Foodem was founded in 2010 by Kash Rehman. Kash began to build Foodem in 2008, after he had spent a lot of time and money navigating prices and placing orders to food suppliers for his own small restaurant. He decided to create a site that made it easy for commercial kitchens in hotels and restaurants  to compare prices from multiple distributors simultaneously and order electronically. [5] In September of 2013, the Maryland Technology Development Corp. gave Foodem $75,000 as part of a $1.2 million funding round to 16 local startups. [2] As of 2014, the company transacted with food distributors in D.C, but planned to expand to commercial kitchens in other cities. [1] 

Funding RoundDatePaper AmountInvestors
SeedMay 14, 2013$600KDingman Center Angels / $50k
Debt FinancingJuly 1, 2012$75KTEDCO
SeedJanuary 1, 2010$200KKash Rehman

References

  1. "Where Restaurants Get Their Food" Bisnow.com May 28, 2014

  2. Sarah Gantz "Canton startup Foodem raises $600,000" Baltimore Business Journal May 13, 2013

  3. Andrew Zaleski "Foodem B2B online food marketplace raises $600K in angel funding" Technical.ly May 13, 2013

  4. Gus G. Sentementes "Foodem gets $75,000 investment from TEDCO to build online wholesale food portal" The Baltimore Sun August 21, 2012

  5. Steven Overly "Web startup Foodem connects food distributors to those who buy in bulk" Washington Post August 7, 2011