Hospitality technology platform Ordermentum has announced the acquisition of wholesale food marketplace Foodbomb.
“Both the Ordermentum and Foodbomb teams have built a deep understanding of the unique needs of food and beverage suppliers and hospitality venues,” says Ordermentum CEO Adam Theobald.
“Collectively, we have a commitment to bringing together the best operators in the space in an easy to use ordering and payment platform that helps the entire industry save time and money.”
As part of the acquisition, Ordermentum has closed an oversubscribed capital round of $16 million, with follow-on investments from Matt Rockman, David Gordon and Perennial Private Ventures Fund, as well as notable new investors participating, including Mocroequities Asset Management, Aditum Ventures, and listed investment fund Touch Ventures.
The investment values the combined business at more than $100 million.
“Since the start of Foodbomb in 2017 I have long admired Ordermentum’s business, and more recently, we’ve had the privilege of getting to know Adam Theobald and the exceptional Ordermentum team as neighbours,” says Foodbomb Co-Founder Paul Tory.
“The synergies between our two companies have always been evident, and when Adam approached us with the idea of merging late last year, I was immediately excited by the potential and Adam’s vision for the future of the industry.”
Ordermentum hopes the acquisition can further accelerate its ambitious national growth strategy and help continue to digitise the food and beverage ordering industry.
For more information, visit www.ordermentum.com
