SOURCE: Smart Lunches

Smart Lunches

August 23, 2012 08:30 ET

Smart Lunches Snacks on Over $1 Million in Series A Funding

Round Led by Data Point Capital

BOSTON, MA--(Marketwire - Aug 23, 2012) - Smart Lunches (www.smartlunches.com), one of the Internet's fastest growing providers of healthy meal options for children outside of the home, announced today that it closed a Series A investment round, securing over $1 million in additional capital. Investors included Boston-based Data Point Capital, Jonathan Kraft, President of The Kraft Group, and Lon Chow, General Partner of Apex Venture Partners, based in Chicago. Smart Lunches partners with schools, daycare centers and camps to serve children fresh, nutritious meals that parents can order 24 hours a day with the click of a mouse. These meals are delivered free to the facility each day, relieving the Smart Lunches partner -- and parents -- of the responsibilities that go along with daily lunch planning and preparation.

"This round of funding will be used to expand into additional regions and market categories, while continuing to raise the bar on the quality of our food and our customer experience," said Emily Green, CEO of Smart Lunches. "This support is coming at a pivotal time as we are growing rapidly. We just completed our first acquisition, allowing us to offer healthy snack choices through our Smart Snax vending machines. Having served thousands of lunches each month over the summer; we're preparing for the start of the school year and believe it will be the most significant yet." Green noted that currently Smart Lunches is adding a new partner every 2-3 days.

Founder and General Partner of Data Point Capital Scott Savitz commented: "Smart Lunches is exactly the type of company we target for our investments. The breadth of strong metrics in the business, such as revenue growth, new customer acquisition, customer satisfaction, frequency of purchase and lifetime value, combined with its technology and user experience, all point to an amazingly robust business that will demonstrate powerful economies of scale while it successfully transforms the way kids and parents think about meals away from home. I'm looking forward to watching Smart Lunches become a tremendous business people can feel good about."

About Smart Lunches: Smart Lunches' online ordering brings fun, nutritious high-quality meals to kids while providing great selection and convenience to parents. Smart Lunches is one of New England's fastest growing companies, serving thousands of students each day at schools, daycare centers and camps. Smart Lunches operates www.smartlunches.com and Smart Snax vending machines. The company gives back by sharing a portion of its earnings with its partners and by contributing to other programs to support underprivileged children -- proving great businesses can do great things while having a higher purpose. If your child is not receiving Smart Lunches, please inquire at info@smartlunches.com.

About Data Point Capital: Data Point Capital focuses on companies that can be leveraged and scaled on the Internet and touch the consumer. Categories of interest include mobile, gaming, social networks, payments, comparison shopping, e-commerce and emerging technologies. The fund is stage-agnostic, allowing for investments in seed, early stage, mid-stage, late stage or controlling interest deals and is made up of business executives and internet leaders who have created tremendous value through building a number of very successful companies. The fund was founded by Scott Savitz, who is a strong advocate of entrepreneurship and innovation. Scott is also the founder and former CEO of Shoebuy.com. He also serves on the boards of Bluestem Brands, SimpleTuition, Two Ten, and MITX, is Executive Chairman of Smart Lunches, and serves as an Advisor for Olejo Stores and On The Spot Systems, Inc. Scott also serves on several committees focused on fostering growth and a more robust economy including the Massachusetts Technology Collaborative and Co-Chair of 12 X 12.

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