MIAMI--(BUSINESS WIRE)--SupplyCaddy, a global manufacturer and supplier of packaging and disposables for the foodservice industry, announced today that it has raised $3.2 million in seed funding led by CEAS Investments. This funding will allow the high-growth startup to expand its resources and drive incremental growth across innovative product development and global infrastructure.
"Our mission at SupplyCaddy has always been simple: deliver," said Zachary Stein, Co-Founder and CEO of SupplyCaddy. "By having a multi-pronged manufacturing strategy, with international facilities in Turkey and Mexico, we have unprecedented access to more raw material suppliers, better pricing, and faster lead times, which, in turn, we are able to deliver to our customers."
SupplyCaddy was launched in 2020 by Stein and Bradley Saveth in response to the global supply chain crisis brought on by the COVID-19 pandemic. As the Food Service Packaging Market is expected to reach $148.25 billion by 2027 – and the global packaging market is estimated to reach more than $1.25 trillion also by 2027 – traditional US manufacturers have been unable to keep up with the growing demand, leaving SupplyCaddy poised for exponential growth and increased market penetration. SupplyCaddy’s ability to source and manufacture in Europe, coupled with the founders’ direct involvement with every client, allow for a more efficient process unhindered by historically long lead times and bureaucratic procedures. This has allowed the fast-growing startup to attract some of the world’s largest corporations and publicly traded companies.
In less than three years, SupplyCaddy has successfully delivered over 200 million products to clients across the globe, including Carl’s Jr., Hardee's, Tijuana Flats, Cinnabon, Auntie Anne’s, Huey Magoo's, Hart House, and Popeyes, one of the world's largest quick service restaurant chicken concepts with over 2,900 locations. The company doubled its growth from 2021 to 2022 and is on track to triple its revenue in 2023.
"In a short time, SupplyCaddy has rapidly emerged as a leader in the manufacturing industry. Their speed-to-market, ability to produce high-quality and sustainable products coupled with their emphasis on customer service, have given restaurants and foodservice businesses a better, faster, more efficient option," said Mike Wohl, Chief Investment Officer of CEAS Investments.
With a global headquarters in Miami, Florida and manufacturing facilities in North America and Europe, SupplyCaddy is able to provide high-quality, affordable products for restaurants, chains, and foodservice brands globally.
"We are grateful to CEAS for their investment in SupplyCaddy, and their belief in our mission to disrupt the current programmatic packaging industry," said Saveth, Co-Founder, President and CMO of SupplyCaddy. "This round will allow us to continue expanding our distribution channels, make key hires to our executive team and further R&D on future product offerings."
SupplyCaddy is a global manufacturer and supplier of packaging and disposables for the foodservice industry. With a global headquarters in Miami, Florida, and manufacturing facilities in North America and Europe, SupplyCaddy is able to provide high-quality, affordable products for restaurants, chains, and foodservice brands globally. For more information, visit SupplyCaddy.com.