- Ordermark — a restaurant ordering management company — announced it raised $18 million in Series B funding to accelerate growth
Ordermark — a company that helps restaurants drive additional revenue — by integrating a delivery platform for any zip code in one simple interface recently announced that it raised $18 million in Series B funding. This round of funding will be used for scaling growth, perfecting new products and features, and integrating with existing restaurant technologies.
This round of funding was led by Foundry Group. All of Ordermark’s previous investors including TenOneTen Ventures, Vertical Venture Partners, Mucker Capital, Act One Ventures, and Nosara Capital participated in this round.
“We created Ordermark to help my family’s restaurant adapt and thrive in the mobile delivery era, and then realized that as a company, we could help other restaurants experiencing the same challenges. We’ve been gratified to see positive results come in from our restaurant customers nationwide,” said Ordermark CEO and co-founder Alex Canter in a statement. “So we are thrilled to have the backing of Foundry Group to fuel our growth. We have some exciting innovations in the pipeline, and look forward to bringing them to restaurants everywhere.”
Alex Canter is the fourth-generation owner of the world-famous Canter’s Deli in Los Angeles so he knows a thing or two about restaurant management optimization. And Ordermark is the only online ordering management company that was “born in kitchen” as it helps restaurants work with multiple delivery platforms. The Ordermark platform was built, tested, and refined from the restaurant operator perspective rather than just forcing new technology on the overwhelmed restaurant market.
Ordermark’s thousands of customers small and single-location restaurants as well as national chains. And they have been reporting higher revenues and positive feedback from staff.
“Foundry Group has a long history of investing in companies that glue together disparate systems over diverse platforms — and that’s exactly what Ordermark is doing in the restaurant industry: connecting third-party ordering solutions, point-of-sale systems, and other cool innovations to help restaurants consolidate, grow, and understand their delivery business,” added Foundry Group partner Chris Moody. “We were initially introduced to Ordermark via three of our partner funds: Techstars Ventures, Matchstick Ventures, and TenOneTen Ventures. All three were incredibly excited about what the Ordermark team is building and the tremendous progress they’ve made since their Series A investment. The more we got to know Alex and the team, the more we realized what an incredible platform they’re building. Their products work in part because Alex is a fourth-generation restaurant owner and he and his team truly understand the needs of the restaurant industry. ”
Ordermark is planning to use the funds to integrate its service with existing restaurant technologies including point of sale systems, kitchen display systems, accounting tools, last-mile delivery companies, etc. Plus Ordermark will power the next generation of restaurants including virtual restaurants.
“Ordermark has dramatically exceeded our expectations and we are excited to continue supporting the business in this round,” explained Nosara Capital founding partner Ian Loizeaux. “The team has grown even stronger and the product remains best-in-class with new innovations driving additional revenue opportunities for its loyal restaurant customers.”
