Ordermark Raises $18M in Series B Funding
Ordermark, which helps restaurants maximize revenue by adding the best delivery platforms for any zip code in one simple interface, raised $18 million in Series B funding. The company will use the round to continue to scale its growth, perfect new products and features, and integrate with existing restaurant technologies.
The round was led by Boulder-based Foundry Group. All of Ordermark’s previous investors participated in the new round, including TenOneTen Ventures, Vertical Venture Partners, Mucker Capital, Act One Ventures, and Nosara Capital, which led the Series A funding.
“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 Alex Canter, Ordermark CEO and Co-Founder, and fourth-generation owner of world-famous Canter’s Deli in Los Angeles.
Ordermark is an online ordering management company that was “born in the kitchen” to help restaurants work with multiple delivery platforms. Ordermark was built, tested, and refined from the perspective of a restaurant operator instead of just forcing a new technology on the already-overwhelmed restaurant market. Ordermark’s thousands of customers include small, single-location restaurants as well as national chains, and they report higher revenues and happier staff, regardless of size.
“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,” said Chris Moody, Foundry Group partner. “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 expects to use the funds to integrate its service with existing restaurant technologies, including Point of Sale (POS) systems, kitchen display systems, accounting tools, last-mile delivery companies and more.