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Venture Capital News: Favor Raises $2M Seed Round

       
AUSTIN, TX, App to get any local store or restaurant delivered, today announced $2M in seed funding from angels and venture capitalists.
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Favor, the app to get any local store or restaurant delivered, today announced $2M in seed funding from angels and venture capitalists including Tim Draper and Silverton Partners. With demand surging in its initial markets of Austin and Boston, Favor is leading the push for customer-centric delivery in the 'Sharing Economy'.

With a focus on food and an average delivery time of 35 minutes, Favor facilitates delivery with a personal touch and intricate back-end technology. Proprietary algorithms forecast supply and demand, prevent delivery errors and dispatch deliveries to the best available assistant, taking into account variables such as food preparation time and different types of deliveries.

'We're excited to have such a reputable, experienced team of investors fund our mission to connect the community of drivers, merchants and customers,' said Favor CEO and Co-founder Ben Doherty. 'We're already seeing evidence that people are thinking of Favor before reaching for their car keys. The funding comes at an ideal time to support product growth, help us scale our team and expand into new markets.'

Catalyst for Local Economic Growth

Favor's focus on excellent customer service feeds a growing ecosystem of merchant partners, who benefit from customer-focused delivery, exclusive analytics and order feedback technology.

'Favor is showing tremendous traction in the Austin and Boston markets,' said Kip McClanahan, Partner, Silverton Partners. 'We were especially attracted to Ben and Zac's strategic initiative for winning over both local merchants and consumers. Ben and Zac have an obvious passion for creating the premiere delivery platform where anything can be delivered right to your front door.'

A catalyst for economic growth in local markets, Favor has already provided restaurants with $2M in sales, and added over 250 drivers to its platform, which hosts thousands of deliveries per week. It is a mobile app that, in only three taps on a touchscreen, enables users to contact a team of personal assistants to deliver anything.

'Favor has helped us provide a service to our customers that we otherwise couldn't,' said Brittany Platt, director of marketing at Austin restaurant Torchy's Tacos. 'The demand and sales of our product has increased with the option for delivery, and Favor's custom dashboard with comparative meal time and location transactions helps with behaviors that extend way beyond the service itself. Not to mention, the runners may very well love our customers as much as we do.'

Partnering with top local restaurants, combining visually rich images of food choices with premium-level service, has proven to be a winning strategy.

'Favor assistants strive to make a personal connection with customers on every delivery,' said Favor CMO and Co-founder Zachary Maurais. 'We've seen magic happen in Austin and Boston, and plan to replicate that in every major city.'

About Favor

Favor is putting the customer focus back into delivery. With three taps of a touchscreen, Favor will deliver you anything from your local store or restaurant. Focused on speed and personal interactions, Favor wows customers, boosts sales for local businesses and provides industry-leading incentives for its personal assistants. Favor is based in Austin, with a presence in Boston, and is funded by Silverton Partners, Tim Draper and angel investors. To learn more about Favor, find us on the App Store, Google Play or visit FavorDelivery.com.
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