Austin-based Favor Lands $2 Million in Seed Stage Funding

Photo courtesy of Favor

Photo courtesy of Favor

The Wall Street Journal is reporting that Favor, a food delivery service for central Austin, has received $2 million in seed funding.

Favor launched in Austin in June of 2013. It’s also available in Boston and San Luis Obispo.

Zac Maurais and Ben Doherty, graduates from California Polytechnic State University or Cal Poly, founded the company in the Boost.VC accelerator and launched a Favor pilot program in San Luis Obispo. They raised an initial investment round from Tim Draper of Draper Fisher Jurvetson.

The service works through a free mobile App that lets customers order online and then one of Favor’s couriers picks up the goods and delivers it. The deliveries cost a $5 flat fee plus tip.

The drivers wear bright blue tuxedo shirts and drive cars outfitted with oversized blue bowties.

“The company has logged about $2.7 million in transactions since starting about three years ago and its number of deliveries in August were double that of March, executives said, though they didn’t provide revenue figures,” according to the Wall Street Journal. “More than 53,000 customers have signed up for the service, they said.”

“Silverton Partners led the seed investment, joined by Tim Draper and unnamed angel investors,” according to the journal. Read the rest of the story here.

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  1. […] Austin-based mostly Favor Lands Million in Seed Stage Funding The Wall Road Journal is reporting that Favor, a meals supply service for central Austin, has acquired $ 2 million in seed funding. Favor launched in Austin in June of 2013. It's additionally obtainable in Boston and San Luis Obispo. Zac Maurais and Ben … Learn extra on Silicon Hills News […]

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