PayPal-backed restaurant ordering platform Olo has received $40m from Raine Group, taking its total funding to almost $55m.
Merchant bank Raine Group has paid $40m for a minority stake in Olo, the US-based developer of an ordering platform for restaurants.
Olo, which also counts online payment platform PayPal as an investor, began life in 2005 as a text message-based ordering service for restaurants but has since grown its offering into an ordering platform that integrates with restaurants’ existing systems, allowing customers to order food before they arrive.
The software powers mobile, web and telephone ordering for more than…
