Odeko, the all-in-one operations and technology partner for thousands of local coffee shops, cafes, and other food and beverage businesses, has announced a significant milestone in its journey. The company has successfully raised $126 million in Series E funding, comprising $96 million in equity led by B Capital and a $30 million credit facility from Banc of California. This latest round of funding arrives at a critical time for small and mid-sized food businesses, many of which are facing economic challenges. Odeko’s mission is to empower these businesses with a robust platform that enhances their ability to compete with larger, global brands, and this funding will help strengthen that mission.
With this fresh injection of capital, Odeko is strategically investing in three key areas: fueling growth through new services and cost-saving measures for customers, acquiring businesses that will extend its market reach and product offerings, and expanding its leadership team. CEO and Founder Dane Atkinson expressed enthusiasm for this expansion, stating, “We’re excited to expand the Odeko ecosystem. 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.”
Currently, Odeko serves more than 14,000 businesses, including well-known regional and national names such as Aroma Joe’s®, Birch, Blank Street, Go Get Em Tiger, Gregorys, Joe Coffee, Van Leeuwen, and White Rhino. Through its digital portal, customers can streamline their operations by purchasing supplies, tracking ordering trends, and financing equipment. By leveraging Odeko’s platform, businesses can increase their revenue, reduce expenses, and lower their environmental footprint, all while saving valuable time on vendor management. As part of its growth strategy, Odeko is continuing to enhance its technology platform to simplify business operations, negotiate more competitive pricing on essential supplies, and expand its range of unique product offerings, from fresh baked goods to emerging local brands.
Sami Ahmad, General Partner and Deputy CIO at B Capital, highlighted the company’s transformative role in the industry: “Odeko is reimagining what it means to be the all-in-one operations and technology partner for independent businesses, making it easier and more affordable to run the local spots we all know and love. 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.”
Further solidifying its commitment to comprehensive business solutions, Odeko has also announced the acquisition of Butter Insurance, a specialized insurance platform tailored to the needs of local businesses. With this move, Odeko is ensuring its customers have access to cost-effective, customized insurance options that align with their unique operational requirements. The acquisition is just one example of how Odeko is broadening its suite of services to offer more value to its partners.
Odeko has already demonstrated its ability to propel small businesses into national success. A prime example is Dona, an independently owned tea company based in Brooklyn, NY, which has experienced an 80% expansion in its coffee shop business since 2021. The company credits much of this success to the accessibility and market reach provided by Odeko’s platform, which has enabled it to break into new markets that were previously out of reach.
As Odeko continues its rapid growth, the company is also strengthening its leadership team with seasoned industry professionals. Gautam Grover has joined as President, bringing experience 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 previously held leadership roles at U.S. Foods and USG. These strategic additions underscore Odeko’s commitment to scaling its operations and maintaining its position as a leading partner for independent food and beverage businesses.
With this new round of funding and strategic initiatives, Odeko is poised to redefine the landscape for local coffee shops and food businesses, ensuring they have the tools, resources, and support needed to thrive in an increasingly competitive industry.