New York-based enterprise operations software program supplier Odeko, which specializes within the espresso store and cafe options, mentioned it raised $96 million by its newest Collection E funding spherical.
Along with the $96 million bump led by the enterprise capital agency B Capital the corporate introduced a $30 million credit score facility from Financial institution of California, in addition to its acquisition of a New York-based small enterprise insurance coverage startup referred to as Butter Insurance coverage.
The Collection E spherical follows a $53 million funding spherical for Odeko in 2023, bringing the corporate’s complete fairness financing to roughly $273 million since its founding in 2019.
The corporate — which gives tailor-made options for funds, point-of-sale, stock, payroll and extra — says it presently has greater than 14,000 clients in america. Outstanding espresso firms utilizing Odeko providers embody chains equivalent to Go Get Em Tiger, Gregorys Espresso, Joe Espresso, Aroma Joe’s, Birch Espresso and White Rhino.
Odeko mentioned it should use the brand new funding to develop new providers designed to end in price financial savings for customers, purchase extra companies to increase market attain and product choices, and add to its govt management.
“We’re excited to increase the Odeko ecosystem,” Dane Atkinson, the CEO and Founding father of Odeko, mentioned in a press launch from the corporate. “This new funding will enable us to supply an unparalleled suite of providers to assist impartial companies achieve entry to the unified shopping for energy and know-how of bigger chains and thrive. With Odeko’s complete options, our clients can deal with what they do finest: serving their communities and creating a terrific buyer expertise.”
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