Indianapolis-based ClusterTruck, the food truck-meets-technology model from serial entrepreneur Chris Baggott, is about to gobble up some new territory. Baggott says ClusterTruck, which launched in April, is about to close on a $1 million round of funding, which will fuel two new locations. "We’re on the cusp, if we haven’t signed it already, of a lease in Bloomington to serve the IU market and we are looking to expand into Columbus, Ohio and hopefully will get that project started in 2016 as well," said Baggott in an interview on Inside INdiana Business Television.
ClusterTruck is the latest venture for Baggott, a co-founder of ExactTarget and Compendium who has turned his entrepreneurial passions to food and agriculture. He sees food delivery as a market with enormous potential. Since launching in April, Baggott says ClusterTruck has amassed more than 11,000 customers and raised more than $3 million in capital.
"Prepared food delivery is the fastest-growing segment in the restaurant industry and it’s just not being done right," said Baggott, who is confident ClusterTruck can become a billion dollar company. "Our competitor is GrubHub (NYSE: GRUB), a publicly traded company and I think they are at three and a half billion and we are completely disrupting their model… they won’t be able to compete with us."