Coco’s Bakery Restaurant, with more than 110 family dining locations in the Western United States including California, Arizona, and Nevada, has announced the newest addition to its legendary menu – online and mobile ordering. The platform, powered by OLO, allows Coco’s customers to choose breakfast, lunch, or dinner from Coco’s extensive menu, place and pay for their order from the convenience of a computer, tablet or Smartphone, and have their order waiting for them at the desired time of pick-up -- morning noon or night. Better yet, online users can Skip The Line at any Coco’s Bakery Restaurant location.
Coco’s is one of the first family dining restaurants to launch online ordering, first adopted by quick serve restaurants, reflecting the brand’s responsiveness to its customers and their preferences. In a recent poll, by market research firm Technomic, 51 percent of panelists considered it important for restaurants to integrate technology into their ordering capabilities.
“While our customer base still enjoys dining with us for a leisurely meal, we have a growing base of on-the-go customers who appreciate the ease of mobile ordering and taking their meal to go,” says Masaaki Terada, president of Catalina Restaurant Group. “We take a contemporary approach to our food, why not take the same up-to-the-minute approach to food delivery?”
OLO’s platform allows fans to order from anywhere via computer, tablet, or mobile device. Fans simply type in their address, or zip code, at order.cocosbakery.com and follow the easy steps to get “great food faster.” Though the ordering service was designed specifically for Coco’s customers, dozens of other marquis restaurant brands use OLO’s mobile and online ordering platform. The self-service ordering platform links directly to each restaurant’s point of sale system, so customers can trust their orders will be accurate and ready upon their arrival to the store.
“The Coco’s brand has served customers for more than 60 years,” says Noah Glass, OLO Founder & CEO.
“By providing online and mobile ordering for takeout and for dine-in customers, Coco’s is setting the new standard in convenience and personalization for the family dining segment.”
OLO, the fastest-growing digital commerce engine for restaurants, announced a $5 million dollar Series B financing from PayPal and existing investors in January 2013. The New York-based company is hiring as it aggressively scales operations for a breakout year in 2013.
OLO allows customers to order and pay from restaurant websites and mobile apps, so that they can Skip the Line at the restaurant of their choosing. OLO transmits the prepaid order directly to the restaurant point-of-sale (POS) system. The company has recently seen a surge in mobile ordering from existing clients on its platform, with hundreds of restaurants receiving more than 50 percent of digital orders through mobile.
OLO is committed to serving as an open and independent commerce platform that allows restaurants to choose whichever payment types they would like to accept – a common carrier for digital commerce. OLO accepts all major credit cards, many stored-value cards, and digital wallet providers.
"OLO is already profitable and is taking on this Series B funding round to scale up in the fast-growing digital commerce market," Glass says. "As our existing restaurant clients are seeing the majority of digital transactions ordered by smartphone, new restaurant brands are getting excited about digital commerce.”
OLO just reached 2 million end users, including customers from such restaurant giants as Five Guys Burgers & Fries and Cold Stone Creamery, doubling its total user base in less than 12 months. The company expects to announce a series of large chain deals in Q1 2013, in addition to recent deals with chains such as Dickey's Barbecue Pit, Noodles & Co., and Veggie Grill from the last quarter.
“As consumers embrace mobile as the everyday way to shop and pay, companies like OLO are helping brands like Cold Stone Creamery and Five Guys Burgers & Fries to harness the power of mobile commerce,” says Hill Ferguson, vice president of global product for PayPal.
“With OLO, restaurants have an innovative way to accept prepaid online and mobile orders and reduce waiting times for their customers. We are excited about the opportunities ahead for OLO and PayPal.”
Since the company’s founding in June 2005, OLO has raised $13.75M in total funding from David Frankel (who seeded OLO and is now Managing Partner at Founder Collective), RRE Ventures, Core Capital Partners, and PayPal.
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