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Tuesday, 07 June 2016 10:26

Ordermentum attracts new investors

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Food and beverage ordering platform Ordermentum has completed a $2.5 million financing round, attracting some well-known investors.

Ordermentum aims to connect suppliers and outlets in the food and beverage industry, simplifying administration on both sides.

"Incredibly, there are over 60 million orders placed every year between supplier and retailers in the food and beverage sector," said co-founder Andrew Low.

"Until now there has been no single solution that significantly improves these manual tasks for both parties."

Australia's 60,000 cafes, bars and restaurants place over 60 million orders worth a total of almost $30 billion dollars, according to the company.

Ordermentum allows retailers to order from multiple suppliers in one place.

The system integrates with suppliers' accounting systems and processes, supporting features such as customised reminders, pricing, products, promotions and payment terms.

The company's $2.5 million series A funding round was led by Capital Markets Technology. David Gordon (co-founder of Nudie Juices and chairman of Ten Network Holdings), Alison Deans (Board director of Cochlear, Westpac, IAG and founder of eBay Australia), and David Skellern (co-founder of Radiata) also invested in Ordermentum.

Low was previously managing director of Toby's Estate Coffee, and his fellow co-founder Adam Theobald founded order-ahead service Beat the Q (now Hey You).


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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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