Food Businesse Odeko Secures $126 Million in Series E Funding to Support Independent Food Businesses and Drive Growth
Odeko, the all-in-one operation and technology partner for thousands of local coffee shops, cafes, and other food and beverage businesses, has announced a significant milestone in its growth journey. Food Businesse The company has successfully raised $126 million in Series E funding, consisting of $96 million in equity led by B Capital and a $30 million credit facility from Banc of California. Food Businesse This new influx of capital comes at a crucial time, as small and mid-size food businesses face increasing economic challenges. Odeko remains committed to empowering these businesses by providing a robust platform that enhances their ability to compete with large global brands.
The funding will be strategically allocated across three key areas: 1) fueling growth through new services and cost-saving initiatives for customers, 2) acquiring businesses to extend its market reach and product offerings, and 3) strengthening its leadership team with experienced industry professionals. Food Businesse These initiatives will bolster Odeko’s ability to provide innovative solutions tailored to the unique needs of independent food and beverage businesses.
“We’re excited to expand the Odeko ecosystem,” said Dane Atkinson, CEO and Founder of Odeko. Food Businesse “This new funding will allow us to offer an unparalleled suite of services to help independent businesses gain access to the unified buying power and technology of larger chains and thrive. With Odeko’s comprehensive solutions, our customers can focus on what they do best: serving their communities and creating a great customer experience.”
Odeko currently serves more than 14,000 customers, including regional and national brands such as Aroma Joe’s®, Birch, Blank Street, Go Get Em Tiger, Gregorys, Joe Coffee, Van Leeuwen, and White Rhino. Through its digital portal, Odeko customers can purchase supplies, track ordering trends, and finance equipment—all in one place. Businesses using Odeko’s platform benefit from increased revenue, reduced expenses, a lower environmental footprint, and significant savings on goods and vendor management time.
As the company expands, it remains focused on refining its technology platform to streamline operations for its customers. Food Businesse The platform is designed to help independent businesses optimize supply chain efficiencies, reduce costs, and provide access to competitive pricing on essentials such as oat milk, paper goods, and fresh baked goods. Additionally, Odeko is committed to sourcing unique, high-quality products from emerging local brands, further enhancing the diversity and appeal of its offerings.
“Odeko is reimagining what it means to be the all-in-one operations and technology partner for independent Food Businesse, making it easier and more affordable to run the local spots we all know and love,” said Sami Ahmad, General Partner and Deputy CIO, B Capital. “The growth potential for Odeko as the partner of choice for local businesses is enormous, and we’re excited to be a part of that growth.”
In conjunction with the funding announcement, Odeko has also revealed its acquisition of Butter Insurance, a specialized insurance platform for local Food Businesse. With this acquisition, Odeko’s customers will gain access to comprehensive, cost-effective insurance solutions tailored to their specific needs. Food Businesse The move aligns with Odeko’s broader strategy to expand its portfolio of services, ensuring that independent food businesses have the tools and resources necessary to operate efficiently and securely.
Odeko’s impact extends beyond financial support and technology solutions—it is also a catalyst for small businesses looking to scale. The company has played a crucial role in propelling emerging suppliers into national prominence. For instance, Dona, an independently owned tea company based in Brooklyn, NY, has experienced over 80% growth in its coffee shop business since 2021. Much of this success can be attributed to Odeko’s platform, which has enabled the brand to expand into new markets that were previously inaccessible.
To accelerate its ambitious growth and expansion plans, Odeko has brought on industry leaders to strengthen its executive team. Gautam Grover has joined as President, bringing extensive experience from his previous roles as Chief Strategy Officer at Roland Foods and President of the Flavors Group at Sensient Technologies. Additionally, Ken Banas has been appointed as Chief Financial Officer, having held multiple leadership positions at U.S. Foods and USG. Food Businesse These strategic hires will play a pivotal role in guiding Odeko through its next phase of growth and innovation.
Odeko’s vision goes beyond merely providing a platform for independent businesses—it seeks to revolutionize how small food and beverage operators navigate the Food Businesses complexities of supply chain management, operations, and growth. By leveraging its growing network, advanced technology, and newly acquired financial resources, Odeko is poised to redefine the competitive landscape for independent food businesses. The company’s relentless focus on innovation and customer-centric solutions ensures that small businesses can thrive, even in the face of economic headwinds.
As Odeko continues to evolve, it remains dedicated to its mission of making business easier for local food operators. With the support of its investors, partners, and an expanding leadership team, the company is well-positioned to drive the next wave of growth in the food and beverage industry. Food Businesses This latest funding round marks a significant step forward, reinforcing Odeko’s role as a trusted partner in the independent food business ecosystem.
With an expanding ecosystem, a commitment to technological advancement, and a growing portfolio of services, Odeko is setting the stage for a transformative future in the food and beverage industry. Food Businesses The Series E funding, combined with strategic acquisitions and leadership expansion, positions the company as a key player in reshaping how independent businesses operate, compete, and grow in an increasingly challenging market.
