Cooking app ReciMe raises $1.5 million in investment round

The cooking app ReciMe has managed to raise $1.5 million in a recently completed seed round led by NZ-based Even Capital.

Launched in late 2022, ReciMe is designed to help home cooks organise, share and shop their recipes. Despite being a young venture with a team of just five, ReciMe now has 800,000 users globally, achieving a 20-fold growth rate in the past year via its subscription model.

In particular, the app has seen tremendous growth in the US, which prompted the start-up to move its operations from Australia to New York early this year, spearheaded by co-founders Christine Nguyen, Ivy Nguyen, Will Kent, and CTO Nic Pacholski.

ReciMe’s most popular feature is its smart importing tool, which enables its users to aggregate all their recipes in one platform within seconds, whether those recipes came from an Instagram video, recipe blog or grandma’s recipe box. To date, over 100,000 unique recipes have been imported to ReciMe.

Co-founder and CEO Christine Nguyen attributes much of the company’s success to the app’s simplicity.

“When we first released ReciMe, we built too many things, and none of them worked well,” Nguyen shared. “As soon as we realised that our smart importer was our most loved feature, we scrapped everything and re-built our entire app just to drive that one core action.”

The latest investment round saw ReciMe get the backing of prominent angel investors from the US, including Marissa Mayer, the former CEO of Yahoo and board member at Walmart, Deb Liu, CEO of Ancestry, Karl von Randow is the founder of Letterboxd which is the fastest-growing community of film-lovers, and Paul Greenberg, prominent Australian eCommerce pioneer and investor.

“We’re thrilled to have such supportive and experienced consumer operators as our investors and cheerleaders”, Nguyen said. “We’ve never been more motivated and clear on the path ahead.”

Sarah Park, Co-Founder and Managing General Partner at Even Capital highlighted the potential to innovate the app offers for home cooks.