Olo Closes Series B Round

[Techtaffy Newsdesk]

Olo, a digital commerce engine for restaurants, has raised a $5 million Series B round from PayPal and existing investors.

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.

Olo allows customers to order and pay from restaurant websites and mobile apps. Olo transmits the prepaid order directly to the restaurant point-of-sale (POS) system.

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