Ordermentum raises $55m, values wholesale platform at $150m
Sydney's Ordermentum closed $55 million from Five V Capital, valuing the hospitality wholesale platform at north of $150 million. Barrenjoey ran the process. The round included a secondary component, letting earlier backers partially exit.
Ordermentum connects 50,000 venues (pubs, restaurants, cafés) with food and beverage suppliers through a single ordering, payments and reconciliation platform. Founded in 2014 by CEO Adam Theobald and co-founder Andrew Low, the business has been operating at scale in ANZ for years.
The capital funds AI product development and acquisitions. Theobald said: "With data and AI changing the social landscape rapidly, the food and beverage industry is entering a new era. Ordermentum wants to underpin the hospitality industry with the infrastructure and intelligence to thrive."
What this means for sales teams:
Ordermentum sits in B2B hospitality tech, selling to foodservice suppliers, distributors and venues. The platform is strongest where suppliers want recurring order channels and richer account data across a fragmented venue base.
This raise should accelerate commercial expansion. Five V Capital manages $3.3 billion across PE and venture funds. Tim Cooper, partner at Five V who led the deal, 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."
The valuation marks a 50% step-up from September 2023, when Ordermentum acquired rival Foodbomb in an all-stock merger that valued the combined business at $100 million. At that point, the platform reached 40,000 venues and 850 suppliers, processing over $1.2 billion in orders annually.
Sales hiring context:
Current headcount and sales leadership are not publicly disclosed. The funding signals a more aggressive push into supplier and distributor accounts. If you are tracking B2B SaaS sales roles in ANZ, Ordermentum is worth watching for SDR, AE and account management openings as they scale post-raise.
Theobald previously co-founded Beat the Q (now Hey You) before launching Ordermentum. Five V's cheque is Ordermentum's most significant external capital event to date.