Dinova Receives $40M Growth Equity Investment from Frontier Capital

Dinova, Inc., a John Creeks, Georgia-based provider of a marketplace that connects expense account diners to restaurants nationwide, received $40m in growth equity funding.

Frontier Capital, a Charlotte-based growth equity firm focused exclusively on software and tech-enabled business services companies, made the investment. In conjunction with the funding, Frontier Capital’s Michael Ramich, will join Dinova‚Äôs board.

The company intends to use the capital to finance ongoing growth initiatives as well as to provide liquidity to early-stage investors.

Founded by CEO Vic Macchio in 2009, Dinova provides a proprietary marketplace exclusively focused on connecting expense account diners to quality restaurants nationwide. Participating companies range from more than a million small to medium sized businesses to hundreds of Fortune 500 enterprises, and its 14,000-plus restaurant network includes local independents as well as national full-service and limited-service restaurant brands, encompassing all price levels and cuisines.

FinSMEs

02/05/2017

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