Ordermentum raises $36 million from Five V Capital

The funding round was managed by Barrenjoey and also gave some early investors a chance to sell part of their shares.

“We’re still largely selling into white space, so the No. 1 thing is to accelerate our go-to-market here in Australia. Secondly, there’s so much opportunity in our network to bring great new features and products to our customers,” Theobald said.

“Ordermentum is already embedded in how the industry transacts day to day. That creates a rare opportunity to introduce intelligence directly into those workflows,” Cooper said.

“We started as an e-commerce and ordering platform, but from our perspective, what we’re really building here is the AI infrastructure of tomorrow,” Theobald said.

Founded in 2014 by Adam Theobald, who earlier co-founded cafe ordering app Hey You, and Andrew Low, the former managing director of Toby’s Estate Coffee. The platform helps pubs, cafes, and restaurants order supplies online instead of using phone calls, text messages, or emails.

The company is backed by Sydney-based venture capital firms EVP, Pure Asset Management, and Micro Equity Venture Partners. In 2023, Ordermentum raised $16 million when it acquired food wholesaling business Foodbomb. Late last year, the company hired Barrenjoey to help raise around $20 million to $25 million in new funding.

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