Our investment in Ordermark
We are excited to announce that Matchstick Ventures Fund II has completed an investment in Ordermark (ordermark.com). Ordermark helps restaurants adopt and streamline online ordering to attract and serve larger audiences.
Online ordering through sites like Uber Eats, GrubHub, DoorDash and hundreds more has been the biggest change to the restaurant industry since the drive through. Over 70% of customers order food from their mobile devices yet only 10% of restaurants have adopted an online ordering platform.
Restaurants struggle to adopt online ordering because each platform introduces a new ticketing, billing and data systems which disrupts the kitchen and adds overhead to the back office.
Each online ordering platform has their own system, printer, tablet and data. This creates a logistical and organizational nightmare for any restaurant who wants to adopt more than one online ordering platform. Multiple printers and tablets clutter the kitchen and tickets get missed. Different ticket designs confuse cooks and cause delays which result in mistakes and poor customer reviews. Adding, updating, and managing menus across systems takes significant time. Integrating, organizing and standardizing the data from multiple platforms is a book keeping, planning and accounting nightmare. And, if a restaurant decides to not adopt an online ordering platform, it is invisible to all the customers who use it.
Ordermark enables restaurants to adopt online ordering by integrating all online ordering platforms into a single printer, tablet and system. Restaurants can easily turn on or off any online ordering system in their area, giving them unparalleled simplicity and control while gaining new customers.
All orders are standardized in a single ticket format and tablet simplifying things in the kitchen. All data is consolidated and organized into a single dashboard streamlining back office reporting and analysis. Updates to menus, hours of operations, and more are seamlessly pushed to all online ordering systems from a single click.
Most importantly, restaurants can now take advantage of the changing consumer interest of ordering from their mobile device using online ordering platforms, growing customer awareness and the bottom line.
Online ordering platforms are excited to integrate into Ordermark because it provides instantaneous distribution of their platform and augments their sales force. They can then focus on marketing their platform to consumers, rather then trying to sign up restaurants one at a time.
Restaurants pay Ordermark a monthly fee for the SaaS offering starting at $100 per restaurant location per month.
Ordermark has over 2500 restaurants on their platform and is in pilot discussions with many of the largest chains in the world including Subway, Sonic, Which Wich and more.
Alex Canter (CEO) and Paul Allen (COO) started the company out of the famous Canter’s deli in Los Angeles. Alex is the fourth generation owner of Canter’s deli and grew up in its the kitchen. To help the deli turnaround from the 2008 recession where foot traffic dropped dramatically he adopted 14 online ordering platforms. Almost overnight online ordering became over 30% of their revenue, generating millions. But, the kitchen and back office wanted to kill him as the printers, tablets and data from the 14 systems overwhelmed the operations of the deli. Alex knew there was a better way and left the family business to start Ordermark.
Natty met Alex in LA while he was recruiting for the Techstars Boulder program and Ordermark was selected to join the 2018 class. You can see Ordermark’s demo day pitch here. We made this investment because of the deep founder/market fit that Alex has with this company. We also saw how well they executed during Techstars and their unique trait of rumbling over problem after problem. Lastly, the market interest has been staggering as the company can barely keep up with interest.
Learn more at:http://ordermark.com