OLO Grabs $5M From PayPal, Others For Restaurant Ordering Platform

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Online and mobile ordering system OLO has raised $5 million in Series B funding from PayPal and other existing investors, according to TechCrunch. The company has previously raised $8.75 million in outside funding and reached its 1 million-customer milestone exactly one year ago.

“We started in June 2005, so it took us six and a half years to go from zero to a million users,” said CEO Noah Glass says. “It’s incredible in less than 12 months we’ve gone from 1 million to 2 million, but it’s indicative that the market is really heating up and customers are excited about ordering from their mobile devices.”

Existing investors David Frankel, REE Ventures and Core Capital Partners also contributed to the round.

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