One of the area’s youngest startups is filling its plate with some extra cash.
DineGigs, a restaurant industry job board and software company launched last year by Richmonder Duncan Parker, has inked a deal for two separate $1 million fundraising rounds led by New York venture capital firm KiwiTech.
Parker and Adam Franchella, KiwiTech’s director of strategic partnerships, confirmed the deal. The first round of funding is set to close in the first quarter 2018.
The newfound funds will aid DineGigs in gradually rolling out the software side of its business. Since October, the company has introduced hiring and onboarding software, as well as a blog and social network for restaurants’ employees. The job board and software are free to use, with DineGigs earning revenue through the sale of add-ons to the software for restaurants.
Parker, a Freeman High School alum who began his career in finance with the likes of Merrill Lynch and Morgan Stanley before working as general manager of Lulu’s in Shockoe Bottom, said the new funding will also be used to begin a total rebuild of the site’s backend, which he plans to begin in February and will take about eight months.
Though DineGigs sees the most users in the likes of New York City, San Francisco and Austin, Parker said it’s seen a steady increase of usage in Richmond. In October it had two jobs posted in Richmond; now it has over 70. Local listings include positions at Fresca on Addison, Havana ’59, Mellow Mushroom and Carytown Cupcakes.
Along with the new funding, DineGigs will have a new home in 2018 as well. Parker said the company will be in the new 1717 Innovation Center that’s being developed by Capital One and Startup Virginia in Shockoe Bottom. The incubator is slated to open in early 2018.