Restaurant Operations Platform Nabs $18 Million
Olo, a digital ordering and delivery platform for restaurants, announced it received an $18 million investment from Tiger Global Management LLC, a New York City investment firm.
The software Olo provides to the industry is an on demand interface that powers all stages of restaurant operations, from ordering to delivery. 250 brands of restaurants (including Applebees, Five Guys, Denny’s, Shake Shack, and Red Robin) use Olo to keep their kitchens running smoothly.
“Tiger Global’s investment is a testament to our achievements to date, and offers a way for long-term team members to realize the value of their hard work to build and grow Olo,” said Olo founder and CEO Noah Glass, in a statement announcing the funding today. “We are thrilled to have TIger Global as part of our investor base and look forward to working with them as we partner to grow digital ordering and delivery for the restaurant industry.
“We have invested heavily in the restaurant technology industry as part of our focus on e-commerce and are very impressed with the work Olo has done to help restaurant brands benefit from digital ordering adoption by acting as their digital interface and technology backbone,” said Scott Shleifer, a partner at Tiger Global. “We believe Olo has a long runway ahead.”
Olo’s first funding venture was a Series B round that yielded $50 million in 2013. It received another $40 million in a minority growth investment from Raine Group in 2016. Olo’s grand total is now $108 million in funding.