Olo, the leading digital ordering and delivery platform for the restaurant industry, announced that the company has received an investment of $18 million by Tiger Global Management, LLC, a New York based investment firm. The investment was structured using common equity held by long-term Olo employees, providing an opportunity for those team members to realize a monetary benefit in acknowledgment of Olo’s growing success in alignment with Tiger Global’s belief in the growth of the restaurant technology sector.
“Tiger Global’s investment is a testament to our achievements to date, and offers a way for long-term team members to realize the value of their hard work to build and grow Olo,” says Noah Glass, Founder & CEO of Olo. “We are thrilled to have Tiger Global as part of our investor base and look forward to working with them as we partner to grow digital ordering and delivery for the restaurant industry.”
“We have invested heavily in the restaurant technology industry as part of our focus on e-commerce and are very impressed with the work Olo has done to help restaurant brands benefit from digital ordering adoption by acting as their digital interface and technology backbone. We believe Olo has a long runway ahead,” adds Scott Shleifer, partner, Tiger Global Management.
Olo’s enterprise-grade software powers every stage of the digital restaurant transaction, from fully branded guest interfaces to the back-of-house order management features that keep the kitchen running smoothly. Orders from Olo are injected seamlessly into existing systems to help brands capture demand from on-demand channels such as brand direct websites and apps, third-party marketplaces, social media channels, and personal assistant devices like the Amazon Echo.