Olo, the digital ordering business, has raised $40 million in funding from The Raine Group. The capital will be used to expand its recently launched Dispatch delivery service.
With over 150 restaurant groups as clients, New York-based Olo works with large chains, including Chipotle, Five Guys and Jamba Juice, to power their online ordering and pick-up business. Olo provides the white label software that integrates with its in-store point-of-sale (POS) payments system and the website checkouts. (It has similarities to some Square offerings, but Olo has focused on larger chains, whereas Square has gained traction with mom-and-pop shops)….