Canadian restaurant supply chain technology company Notch has closed a $10 million funding round led by Accomplice and BDC, bringing its total funding to date to nearly $20 million. MATH Venture Partners, Golden Ventures, The Yield Lab, Garage Capital and Plexo Capital also participated, as did several angel investors.
The Toronto-based company wants to use the new funds to bring more restaurants and distributors online when it comes to the food supply chain. Notch’s software, available through an iOS or Android app, provides a central location for restaurateurs and managers to view and manage all of their vendors and shipments, create inventory lists, compare prices between different vendors, and digitize invoicing and accounting, among other Tasks.
Restaurant distributors can use the Notch Connect product to set up and manage digital storefronts, as well as manage billing and accept digital payments from restaurants.
Until recently, Notch was called ChefHero and was largely focused on providing a marketplace to connect buyers and sellers in the restaurant food supply chain. Largely spurred by the impact of the COVID-19 pandemic on the restaurant industry, the company was reorganized and rebranded earlier this year to its current name and form.
Notch said today that this funding round will also help it expand its geographic reach to more parts of North America. In addition to Toronto, the company operates in Chicago, Illinois and Texas.
Back office and back office businesses in general are getting more funding lately as restaurants seek to further reduce costs and make their operations more organized/efficient. Notch’s news follows recent funding announcements from Zenput ($27 million), Choco ($100 million), and 86 Repairs ($7.3 million).
Notch is also developing Notch Pay, which when complete will function as an automated payment and collection tool for restaurants and distributors. Currently, these tasks are performed through Notch Connect.