Now that’s support!


OLO, the New York-based online and mobile ordering platform for restaurants, has raised a $5 million Series B round of funding from PayPal and existing investors, David Frankel, RRE Ventures, and Core Capital Partners. The company had previously raised $8.75 million in outside funding. Exactly a year ago today, as it turns out, the company announced reaching the milestone of 1 million customers, and now that number is nearly 2.25 million, according to CEO Noah Glass.

“We started in June 2005, so it took us six and a half years to go from zero to a million users,” Glass says. “It’s incredible in less than 12 months we’ve gone from 1 million to 2 million, but it’s indicative that the market is really heating up and customers are excited about ordering from their mobile devices,” he explains.

That trend has PayPal excited, too. The company has…

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