Ordermark Raises $120M
Ordermark, a provider of online ordering management solutions for restaurants and virtual restaurant concepts, closed its $120M Series C funding round.
Ordermark’s online order management technology, used by thousands of independent and chain restaurants nationwide, consolidates mobile orders across online ordering services and sends them to a single printer -- enabling omni-channel ordering and delivery.
Ordermark also operates Nextbite, one of the earliest and fastest-growing pioneers in the virtual restaurant space. With Nextbite, qualifying restaurants can offer popular delivery-only brands, including HotBox by Wiz, a partnership with Wiz Khalifa, out of their existing restaurant space. Powered by Ordermark’s technology, Nextbite’s turnkey delivery-only brands result in substantial incremental revenue growth for restaurants.
The rise of ghost kitchens and virtual restaurants, often referred to as the 3rd wave of food delivery, have paved the way for a larger addressable market for online food delivery. Virtual brands empower independent restaurants to increase their revenue and profitability by offering virtual-only menus through online delivery channels.
Since the start of COVID-19, Nextbite has launched 15 brands and has added over 1,000 delivery-only restaurants nationwide.