About Ritual
Ritual is a company based in Toronto (Canada) founded in 2014 by Larry Stinson. It operates as a Two-Sided Marketplace, and Commission-Based. Ritual has raised $134.57 million across 4 funding rounds from investors including Georgian, Greylock Partners and Insight Partners. Ritual has completed 1 acquisition, including AllChecked.in. Ritual offers products and services including Ritual Online Ordering, Ritual App, Ritual for Companies, and Ritual for Buildings. Ritual operates in a competitive market with competitors including Toast, SpotOn, Lunchbox, Tillster and Olo, among others.
- Headquarter Toronto, Canada
- Founders Larry Stinson
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Sectors
Consumer
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Phone
*********
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Website
*********
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Social
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- Legal Name Ritual Technologies, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$134.57 M (USD)
in 4 rounds
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Latest Funding Round
$21.63 M (USD), Series C
Jun 01, 2020
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Investors
Georgian
& 5 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Products & Services of Ritual
Ritual offers a comprehensive portfolio of products and services, including Ritual Online Ordering, Ritual App, Ritual for Companies, and Ritual for Buildings. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A platform for ordering food from local restaurants.
An app for convenient food ordering and offers.
Solutions for companies to manage employee meal perks.
Services connecting office tenants with local food options.
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Funding Insights of Ritual
Ritual has successfully raised a total of $134.57M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $21.63 million completed in June 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series C — $21.6M
- First Round First Round
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2020 | Amount | Series C - Ritual | Valuation |
investors |
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| Jun, 2018 | Amount | Series C - Ritual | Valuation | Georgian | |
| Sep, 2017 | Amount | Series B - Ritual | Valuation | Insight Partners |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ritual
Ritual has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Georgian, Greylock Partners and Insight Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm specializing in early-stage tech investments and founder support.
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Founded Year | Domain | Location | |
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Venture capital is provided to expanding B2B software companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ritual
Ritual has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include AllChecked.in. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Visitor management software is delivered via SaaS for commercial spaces.
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2020 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Ritual
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ritual Comparisons
Competitors of Ritual
Ritual operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Toast, SpotOn, Lunchbox, Tillster and Olo, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Restaurant operations are managed via a cloud-based platform.
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| domain | founded_year | HQ Location |
Provider of cloud-based POS software solutions for businesses and service providers
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| domain | founded_year | HQ Location |
Online ordering solutions are provided for restaurants.
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| domain | founded_year | HQ Location |
SaaS solutions for restaurant online ordering and analytics are offered.
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| domain | founded_year | HQ Location |
Olo is recognized as a restaurant technology platform provider.
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| domain | founded_year | HQ Location |
Zenput is utilized as an operations execution platform for multi-unit operators.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ritual
Frequently Asked Questions about Ritual
When was Ritual founded?
Ritual was founded in 2014 and raised its 1st funding round 1 year after it was founded.
Where is Ritual located?
Ritual is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Is Ritual a funded company?
Ritual is a funded company, having raised a total of $134.57M across 4 funding rounds to date. The company's 1st funding round was a Series B of $42.94M, raised on Jun 01, 2015.
What does Ritual do?
Ritual is managed as an online food ordering system connecting customers with local restaurants. It is designed to provide a convenient way to order ahead and skip lines, saving time and money. Solutions are offered for restaurants to reach new customers affordably, for companies to manage employee meal perks, and for buildings to enhance tenant experiences with local food options. The platform is focused on the food technology sector, addressing the needs of hybrid work environments and office settings.
Who are the top competitors of Ritual?
Ritual's top competitors include Toast, UrbanPiper and SpotOn.
What products or services does Ritual offer?
Ritual offers Ritual Online Ordering, Ritual App, Ritual for Companies, and Ritual for Buildings.
How many acquisitions has Ritual made?
Ritual has made 1 acquisition, including AllChecked.in.
Who are Ritual's investors?
Ritual has 6 investors. Key investors include Georgian, Greylock Partners, Insight Partners, Mistral Venture Partners, and Mantella Venture Partners.