C3 announced it would soon be in 500 Reef ghost kitchens through a deal that brings another $80 million to the fast-growing foodservice technology and branding firm.
The company, founded by hospitality giant Sam Nazarian who is also the chairman and CEO of SBE Entertainment, brings together technology, underutilized retail and hotel kitchens and “world class culinary talent.” It has deep connections to mall real estate developer Simon Property Group and Accor, a global hospitality manager and developer.
The Series B round led by Brookfield Asset Management and Reef Technologies, brings the total funds raised to $100 million for the firm, but highlights major investment in partnerships, as well.
Reef looks to be a new key partner and investor. The SoftBank-backed ghost kitchen operator with a similar strategy of operating kitchen facilities out of owned parking lot real estate will plug C3 brands into its 500 locations across the U.S. C3’s virtual brands including Umami Burger, Krispy Rice, and El Pollo Verde will be coming to a parking lot near you soon through this new partnership.
Along with co-leading the raise, Brookfield’s Managing Director Kevin McCrain will join the board of directors to help direct strategy for the firm.
The C3 technology stack will also be spreading across the Middle East. The company announced a new $100 million joint venture to bring C3 technology and brands to Saudi Arabia in a partnership with W.K. Holdings and Kitopi, a cloud kitchen operating platform.
The announcement comes after a slew of partnerships and executive additions, including a partnership with Lunchbox and another with Chowly.
