Olo, a NYC-based provider of digital ordering and delivery solutions for multi-location restaurants, received a $40m minority investment.
The Raine Group, a global merchant bank focused exclusively on technology, media, and telecommunications, made the investment. In conjunction with the transaction, Colin Neville and Brandon Gardner of The Raine Group will join Olo’s Board.
The company intends to use the funds to continue to grow and to further enhance and develop its offerings.
Led by Noah Glass, Founder & CEO, Olo provides a digital commerce platform that powers mobile, web, and telephone ordering for over 150 major restaurant brands, representing over 20,000 stores nationwide. The company’s solution is integrated with the market leading point-of-sale, payment processing, and loyalty solutions.
Dispatch, Olo’s latest venture, provides restaurant operators with the ability to add on-demand delivery to their digital ordering program without having to build their own delivery fleet. For each new delivery order, the platform collects real-time price quotes, chooses the best available, and extends the option to the consumer.
Clients include Baskin-Robbins (DNKN), Chipotle (CMG), Five Guys Burgers & Fries, Jamba Juice (JMBA), Noodles & Company (NDLS), sweetgreen, Wingstop (WING), etc.