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- Cheetah
Cheetah Revenue, Valuation, Funding & Investors
Cheetah is valued at $180M as of April 2020, a 1.6x multiple on its last reported $111M revenue.
Last Cheetah valuation
$180M
Series B · Apr 2020
Last Cheetah funding round
$60M
Series C · Jan 2022
Cheetah revenue
$111M
Series B · Apr 2020
Key investors in Cheetah
Hanaco Venture Capital
ICONIQ Capital
Floodgate
Eclipse Ventures
Y Combinator
AltaIR Capital
About Cheetah
Cheetah is a Bay Area-based grocery delivery service utilizing refrigerated trucks as mobile fulfillment centers for contactless pickup of food and supplies at wholesale prices. Customers order via the mobile app and collect items directly in their car trunks at designated San Francisco, Oakland, and San Jose locations without exiting the vehicle. The model emphasizes safety amid crowds by avoiding store entry during peak hours.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$111M (Apr 2020)
Valuation
$180M (Apr 2020)
Cheetah Valuation
Cheetah is currently valued at $180M, based on its Series B in April 2020.
The $36M round was led by Eclipse Ventures, with participation from ICONIQ Capital, Hanaco Venture Capital and Floodgate.
Cheetah valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2020 | Series B | $180M | 1.6x |
Cheetah Revenue
Cheetah's latest recorded revenue is $111M, as of its Series B in April 2020. At a $180M valuation, that implies a 1.6x revenue multiple.
Cheetah revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2020 | $111M | $180M | 1.6x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cheetah Funding History
Cheetah has raised a total of $128M across 4 funding rounds.
Cheetah's first fundraising round was a $2M seed round in December 2015. The most recent completed round was a $60M Series C in January 2022.
Cheetah funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series C | Manna Tree (lead); Sator Grove Holdings (lead); Lineage; Eclipse Ventures; Veronorte; Toy Ventures; Hanaco Venture Capital; Grupo Nutresa | $60M | - | - |
| Apr 2020 | Series B | Eclipse Ventures (lead); ICONIQ Capital; Hanaco Venture Capital; Floodgate | $36M | $180M | Cheetah is a San Francisco-based e-commerce platform providing contactless pickup and delivery of food and supplies, originally focused on wholesale delivery for independent restaurants but pivoted to direct-to-consumer sales amid COVID-19 restaurant closures. Founded by Na’ama Moran, Christopher Elliott, Alon Har-Tal, and Vincent Matranga, the company operates a fleet of temperature-controlled vehicles serving small businesses and now individuals from offices in San Francisco and Tel Aviv. The company had grown to serve thousands of restaurants since delivering first orders in 2015. On April 28, 2020, Cheetah closed a $36 million Series B funding round led by Eclipse Ventures, with participation from ICONIQ Capital, Hanaco Ventures, and Floodgate Fund, bringing total funding to $66 million. The capital supports expansion of essential services to consumers during the pandemic and beyond, aiming to help communities access needed supplies safely and affordably. Competitors include Choco, which raised $30.2 million at a $250 million valuation around the same period to support restaurants. Cheetah's pivot and funding occurred amid fundraising challenges due to COVID-19 uncertainties, yet secured backing to sustain operations through the crisis. |
| Oct 2018 | Series A | Floodgate (lead); Hanaco Venture Capital (lead); ICONIQ Capital; AltaIR Capital | $30M | - | Cheetah is a San Francisco-based startup originally focused on a restaurant wholesale app that pivoted to direct-to-consumer food and supplies delivery amid COVID-19 to support independent restaurants and communities. Founders include CEO Na’ama Moran, Christopher Elliott, Alon Har-Tal, and Vincent Matranga. The 2020 funding aimed to expand essential services safely and cost-effectively. |
| Dec 2015 | Seed | Marker (lead); Y Combinator | $2M | - | - |
Who has invested in Cheetah?
13 investors have backed Cheetah across its funding rounds, including Hanaco Venture Capital, ICONIQ Capital, Floodgate, Eclipse Ventures, Y Combinator and AltaIR Capital.
Lead investors include Manna Tree, Sator Grove Holdings, Eclipse Ventures, Floodgate, Hanaco Venture Capital and 1 other investor.
Cheetah Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Oct 2018 | ||
| 2 | Lead | Apr 2020 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Lead | Oct 2018 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Dec 2015 | ||
| 1 | Lead | Dec 2015 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Jan 2022 | ||
| 1 | Participant | Oct 2018 | ||
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Start Free TrialAcquisitions by Cheetah
Cheetah has acquired 3 companies to date.
Last acquisition by Cheetah was on July 20th 2022. Cheetah acquired Esteson for undisclosed valuation.
Latest Acquisitions by Cheetah
| Description | Esteson is a Greek importer and distributor of extra virgin olive oil and wines from producers in Crete, Peloponnese, and Aegean islands. Supplying retailers and HoReCa channels across Europe from its Athens base, it specializes in PDO Koroneiki olive oils and Assyrtiko varietal wines. | Palo Alto Foods is a family-owned wholesale distributor founded in 1988 that delivers over 4,000 SKUs of locally sourced natural and specialty foods to restaurants, cafes, and retailers across the San Francisco Bay Area. The product range encompasses beverages, dairy items, grocery staples, proteins, grab-and-go meals, yogurt supplies, and compostable packaging. Operating from Hayward, California, the company emphasizes organic, gourmet, and unique items from regional producers to independent businesses in Northern California. | Joseph Martin Distributing is a food importer and wholesaler specializing in olive oils and Greek wines. The company sources products from Mediterranean producers and distributes to U.S. retailers and restaurants via jmdfood.com. |
| HQ Country | |||
| HQ City | San Jose, CA | San Jose, CA | San Jose, CA |
| Deal Date | 20 Jul 2022 | 20 Jul 2022 | 20 Jul 2022 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Cheetah acquisitions and their M&A valuation multiples. Start Free Trial | |||
Cheetah Competitors
Cheetah competitors include listed companies like Elanders and CTI Logistics, and private ones like Airlift Technologies, Barogo, Darkstore and Prozo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $90M | - | $275M | 3.1x | ||
| Private | - | - | $294M | - | ||
| Publicly listed | $1.2B | $183M | $179M | 0.8x | ||
| Private | - | - | $181M | - | ||
| Private | $21M | - | $177M | 8.4x | ||
| Publicly listed | $231M | $42M | $166M | 1.0x |
Cheetah Public Comps
Cheetah is still privately-owned, but its public comps include Elanders, CTI Logistics, Luka Rijeka, Lindbergh, Mandiri Herindo, PKP Cargo, Proficient Auto Logistics, Waberer's Group, Accel and Demae-Can.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $183M | 0.8x | 0.8x | 5.5x | 4.8x | |||
| $231M | $42M | 1.1x | 1.0x | 6.2x | 4.7x | |||
| $30M | $17M | 7.5x | - | 13.5x | - | |||
| $38M | $7M | 3.9x | 3.8x | 21.3x | 20.2x | |||
| $165M | $41M | 0.9x | - | 3.6x | - | |||
| $1B | $148M | 0.7x | 0.6x | 4.7x | 5.8x | |||
| $430M | $3M | 0.4x | 0.4x | 72.3x | 4.4x | |||
| $940M | $120M | 0.4x | - | 3.3x | - | |||
This data is available for Pro users. Sign up to see all Cheetah competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cheetah
| When was Cheetah founded? | Cheetah was founded in 2014. |
| Where is Cheetah headquartered? | Cheetah is headquartered in San Francisco, CA, United States. |
| Is Cheetah publicly listed? | No, Cheetah is a private, VC-backed company. |
| What is Cheetah's valuation? | Cheetah was last valued at $180M in its Series B in April 2020. |
| How much funding has Cheetah raised? | Cheetah has raised $128M across 4 funding rounds. |
| What was Cheetah's last funding round? | Cheetah's last funding round was a $60M Series C in January 2022, led by Manna Tree and Sator Grove Holdings. |
| Who are Cheetah's investors? | Cheetah's investors include Hanaco Venture Capital, Eclipse Ventures, ICONIQ Capital, Floodgate, Lineage, Y Combinator, Marker, Veronorte, Sator Grove Holdings, Toy Ventures and 3 others. |
| What is Cheetah's revenue? | Cheetah's latest recorded revenue is $111M (April 2020). |
| What is Cheetah's revenue multiple? | Cheetah's latest valuation implies a 1.6x revenue multiple ($180M valuation on $111M of revenue). |
| Which companies are comparable to Cheetah? | Companies comparable to Cheetah include Airlift Technologies, Barogo, Elanders, Darkstore, Prozo and CTI Logistics. |
| How many companies has Cheetah acquired? | Cheetah has acquired 3 companies, including Esteson, Palo Alto Foods and Joseph Martin Distributing. |
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