- Round led by B Capital will further enhance offering for small businesses looking to optimize supply chain management and other operations
- New investors Amex Ventures, KSV Global and FJ Labs join GGV Capital and Tiger Global
- Investment brings Odeko’s total funding to $177M
NEW YORK, April 18, 2023 — Odeko, the all-in-one operations partner for independent coffee shops, cafés, and other shops, today announced that it has raised $53 million in Series D financing, bringing its total equity investment to $177 million. The round was led by existing investor B Capital and includes continued support from GGV Capital and Tiger Global Management. New investors, including Amex Ventures, KSV Global and FJ Labs, also participated in the round.
Odeko will further invest in the technology behind its platform, which helps its 10,000 small business customers nationwide more efficiently order equipment and supplies from hundreds of vendors, manage inventory, and analyze data insights to save time and money. The company will also continue to scale its operations and enter new markets.
Dane Atkinson, CEO and Founder, Odeko, said: “For the past four years, Odeko’s mission has been to empower independent businesses. Today, that mission is as critical as ever. Our customers face countless operational and environmental challenges every day, and our goal is to ease their burden so that they can focus their time and resources on building the parts of their business they love, while serving their neighborhoods and communities. This capital allows us to do just that, and we are grateful to our investors for their continued support.”
“Odeko has very quickly established itself as the go-to operational partner for independent coffee shops and cafes across the U.S.,” said Sami Ahmad, General Partner, B Capital. “The company has proved to be a critical partner to the independent businesses it supports, streamlining operations and removing friction from day-to-day tasks. We look forward to supporting Odeko as they continue to scale their business.”
The Odeko platform helps approximately 10,000 independent businesses save up to 21% on the cost of goods and up to 10 hours a week of time spent on managing vendors. Odeko currently serves 16 major markets via local delivery and the rest of the United States through e-commerce and other solutions. In the last year alone, Odeko expanded into six new markets, including Miami, Portland and Dallas.
For more information, visit: odeko.com.
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About Odeko:
Odeko is an all-in-one operations partner that helps independent businesses save what matters most: money, time and the planet. Its smart operations software optimizes supply chain management, empowering businesses to order exactly what they need from over 400 national and local brands, delivered direct-to-fridge and shop, five to seven days a week. Odeko offers an order ahead functionality through its app and online for consumers looking to pre-order from their favorite local coffee shops and cafes. Odeko’s mission is to help small businesses increase their revenue, lower their expenses, and reduce their environmental footprint.
Founded in 2019 by CEO and founder Dane Atkinson, Odeko is already in 16 markets and supplies 10,000 independent coffee shops and cafes.
To learn more about Odeko, please visit www.odeko.com.
SOURCE Odeko
