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Social ordering startup Ritual grows 70% in 2019

2 months ago by Jon Marino in Startups
The founders of Ritual, Ray Reddy, Larry Stinson, and Robert Kim

Plenty of apps, from Seamless ($NYSE:GRUB) to Doordash ($DOORDASH), are in the business of having a paid delivery-person bring your lunch, burrito, or even coffee, to your office or home. But how about Dave, in Accounting? You know Dave, he sits in the corner.

Toronto startup Ritual's appeal is two-fold: for consumers, it allows them to socialize an order and have one individual grab several meals for a group of people. Office lunch, for example, is a bit of a ritual, and it's also no fun in poor weather. It's also appealing to restaurants because they're not burdened with multiple order tickets for what is effectively the same group every day. It streamlines work on both sides the way Github streamlines task management for developers, in a sense. 

Ritual is looking to put just that concept to work through its app - and it's catching on, and going international. Speaking of which, it has grown LinkedIn ($NASDAQ:MSFT) Employee Headcount more than 70% so far this year. 

Ritual - not to be confused with US-based subscription women's vitamin platform, also called Ritual - is seeing its app increasingly adopted as it spreads into new cities. After the company's most recent round of funding, it announced plans to move into new markets to expand to more than 40 North American Cities, Europe, Australia and the UK. Ritual's Apple App Ratings Count has increased more than 14% so far in the second half of 2019.

The company is expanding - in part thanks to a recent round of funding from Georgian Partners, Greylock Partners and Insight Ventures. And while its payroll has risen, Ritual's job postings have been more or less steady in 2019, which our last chart tracks. 

About the Data: 

Thinknum tracks companies using information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

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Jon Marino

Jon Marino is Thinknum's finance editor, covering the impacts of alternative data on public companies and investors. Prior to joining Thinknum, Jon worked in the ...

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