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).