Emerging and High Growth Companies

Ritual in its CAD $29.8 million Series D financing round

Ritual
Key Contact
Chad Bayne

Partner, Emerging and High Growth Companies, Toronto

Team
Justin Dharamdial

Partner, Emerging and High Growth Companies, Toronto

Jeremy Lin

Associate, Emerging and High Growth Companies, Toronto

 

On June 1, 2020, Ritual completed its CAD $29.8 million Series D financing round. The funding will be used to continue operations following the impact of COVID-19. Ritual will also use the funding to focus on innovation as it launched a new commission free online ordering tool, Ritual ONE. The new product is part of a partnership with the City of Toronto and provides foodservice businesses with a way to accept commission free digital orders from their own website and social media accounts.  

Ritual is a Toronto based social ordering app that connects restaurants with customers to offer a simple, time saving tool to place, pay for and pick up orders. Ritual taps into networks of co-workers to enable social ordering which allows colleagues to add their own orders onto an existing order, saving customers time and driving incremental orders for merchants.  

Osler, Hoskin & Harcourt LLP advised Ritual with a team consisting of Chad Bayne, Justin Dharamdial and Jeremy Lin (Emerging and High Growth Companies).

Value
CAD $29.8 million
Date Closed
June 1, 2020
Lead Office
Toronto
Key Contact
Chad Bayne

Partner, Emerging and High Growth Companies, Toronto

Team
Justin Dharamdial

Partner, Emerging and High Growth Companies, Toronto

Jeremy Lin

Associate, Emerging and High Growth Companies, Toronto