Total amount raised
$63.3 Million
Latest funding date
1/1/2016
Location
Olo has successfully raised funding over seven rounds, with the latest being a Post-IPO Equity round. The platform is backed by eight investors, including Tiger Global Management and The Raine Group.
Olo's technology platform is designed to enhance restaurant operations, increase orders, and improve guest experiences. Keep reading to explore the intricacies of Olo's fundraising journey and the investors backing this innovative platform.
What Is Olo?
Olo is a SaaS digital ordering and delivery platform for restaurant brands, based in New York, United States. The company operates in the restaurant technology industry and has been acquired by Thoma Bravo. Olo is a public company listed under the ticker NYSE:OLO.
With an employee count between 501-1000, Olo offers a comprehensive suite of digital solutions, including online ordering, delivery management, and guest data platforms. The platform is trusted by over 90,000 restaurant locations and 800+ top restaurant brands, aiming to enhance guest experiences and streamline restaurant operations.
How Much Funding Has Olo Raised?
- Seed Round
- Amount Raised: USD 1,250,000
- Date: January 2005
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the digital ordering platform.
- Series A
- Amount Raised: USD 7,000,000
- Date: January 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and market reach.
- Series B
- Amount Raised: USD 5,000,000
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology infrastructure.
- Series C
- Amount Raised: USD 10,000,000
- Date: October 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase market penetration.
- Series D
- Amount Raised: USD 40,000,000
- Date: January 2016
- Lead Investors: The Raine Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Secondary Market
- Amount Raised: USD 18,000,000
- Date: January 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and technological advancements.
- Post-IPO Equity
- Amount Raised: USD 103,286,015
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and drive further growth.
Total Amount Raised: USD 184,536,015. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a New York-based investment firm known for its focus on technology and internet sectors. They led the Secondary Market round for Olo, investing $18 million.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, LinkedIn, Spotify.
- The Raine Group
- Details: The Raine Group is a global merchant bank focused on technology, media, and telecommunications. They led the Series D round for Olo, investing $40 million.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: DraftKings, Vice Media, Imagine Entertainment.
What's Next for Olo?
Olo stands at the cusp of significant growth opportunities, driven by the increasing digitalization of the restaurant industry. With a robust client base that includes high-profile names like Applebee’s, Chili’s, and Chipotle, the company is well-positioned to expand its digital ordering and delivery platform. The integration of enterprise-grade software with various on-demand channels, including personal assistant devices like Amazon Echo, presents a vast market potential.
Future fundraising opportunities appear promising, especially given the successful $18 million round led by Tiger Global Management. This financial backing could fuel further technological advancements and market penetration. However, Olo may face challenges such as competition from other platforms and the need to keep pace with rapidly evolving technology and consumer preferences.
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