Grubhub acquires payments and loyalty company LevelUp for $390M

Grubhub announced this morning that it’s agreed to acquire LevelUp for $390 million cash.

Founder and CEO Matt Maloney told me that while previous Grubhub acquisitions like Eat24 were designed to give the company’s delivery business more scale, “This is kind of a different acquisition. It’s a product and strategic positioning acquisition.”

LevelUp is based in Boston and offers a platform to manage digital ordering, payments and loyalty, with customers like KFC, Taco Bell Pret a Manger, Potbelly and Bareburger. Maloney said that buying the company allows Grubhub to deepen its integration with restaurants’ point-of-sale systems. That, in turn, will allow them to handle more deliveries.

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