Olo files to go public with $100M offering

Software company Olo filed for an initial public offering on Friday with plans to raise $100 million, according to an S-1 filing.

• As of Q4 2020, Olo processes 1.8 million orders per day and works with 64,000 restaurant locations and 400 brands, according to the filing. During the past year, the company posted a 94% increase in revenue to $98.4 million. The company said its gross merchandise value for 2020 was $14.6 billion.

• In response to the pandemic, 70% of Olo's customers said in a survey they provided more off-premise delivery and pickup options. Olo adapted its offerings to include enhancements for curbside pickup and notifications upon customer arrival, according to a press release.