Portfolio March 27, 2014

Greylock’s Investment in Sprig

Healthy Food Delivered in Three Taps


I’m happy to announce that Greylock is leading the Series A investment in Sprig. This is the first investment of Greylock’s $100M marketplace commitment. I’ll be joining the Board of Directors

Sprig is an on-demand food delivery service where the customer presses a button on their phone and gets restaurant quality food delivered within minutes to wherever they are. The service launched a few months ago in San Francisco.

I’m really excited to be working with the company.

The customer proposition is straightforward. Click button. Get food. It’s restaurant-quality food delivered quickly and affordably. The simplicity of the proposition masks the enormous complexity underneath. It’s really hard to quickly and affordably deliver organic locally-sourced meals prepared by experienced chefs. There are delivery logistics, hybrid online/offline user experience, and food quality — all done in real time. It’s hard. Really hard. It’s a balancing act between price, convenience, and quality. Most businesses are lucky to do one well. Successful companies can do two. Being able to do all three is how you revolutionize an industry. Sprig has started down the path of being a market-defining company.

Because this is a difficult business to build and execute, it requires a great team. And Sprig has pulled together an impressive team, lead by co-Founder and CEO Gagan Biyani. I’ve been working closely with Gagan since the company was still in concept-stage. He’s a talented serial entrepreneur who has helped build two previous marketplace businesses — Udemy and Lyft. He’s a smart and scrappy marketplace entrepreneur. He’s complemented by Nate Keller, Sprig’s Founding Executive Chef. Nate was the Executive Chef at Google as they scaled from 400 to 40,000 employees. He has the unique experience of cooking quality food at scale. The founding team is rounded out with equally talented Morgan Springer, Neeraj Berry, and Matt Kent.

If you live in San Francisco try out the service and let us know what you think. I just looked up the meals for tonight and saw Mushroom Goat Cheese Tarts — Wild mushrooms, goat cheese, chard and tomatoes baked in a tart shell. Served with grilled artichokes, millet salad with squash, leeks, radicchio and sherry vinaigrette, and a lemon salsa. And of course, a signature truffle for dessert. All for just $10 and delivered to your door within minutes.

The future is delicious.