Notch, a Toronto, Canada-based provider of a software platform that makes it simple to manage orders, reconcile bills and invoices and process payments, raised $10M in funding.
The round was led by Portage, with participation from Golden Ventures, Math Ventures, Accomplice, Pre-Cursor Ventures, Garage Capital and Plexo Capital. As part of the financing, Ricky Lai, Partner at Portage, will be joining the Board of Directors at Notch.
The company intends to use the funds to ramp up the sales and marketing teams, and accelerate geographic expansion.
Led by CEO Jordan Huck, Notch provides a platform that delivers an end-to-end solution for back of house operations, giving foodservice owners and their staff the tools needed to automate manual tasks required to run and grow their business. The company partners with restaurant groups such as Oliver & Bonacini Hospitality and wholesale distributors like The Butcher Shoppe, to enable them and every foodservice company the tools to manage and grow their business operations online.
In Q1 of 2023, Notch will be releasing its AP manager solution to help restaurants move all of their supply chain payments online. Restaurants across North America can move off of cash and cheque, and seamlessly pay their vendors through the Notch platform.
In late 2022, the company rolled out an Accounts Receivable solution for wholesale distributors. The system automates collections, and brings payments online for distributors across North America.
As a part of this round, the company also underwent a restructuring of the team, and hired new heads of marketing, operations, and sales to focus on its new product offerings.
FinSMEs
19/01/2023