Foodservice software provider Notch nabs $10m in VC funding

Portage led the round, with participation from Golden Ventures, Math Ventures, Accomplice, Pre-Cursor Ventures, Garage Capital and Plexo Capital.

  • As part of the financing, Ricky Lai, a partner at Portage, will be joining Notch’s board of directors
  • The round’s proceeds will be used for expansion and to expand the sales and marketing teams
  • Sagard’s Portage is a global investment platform focused on fintech and financial services

Notch, a Toronto-based software provider to the wholesale foodservice industry, has secured $10 million in financing. Portage led the round, with participation from Golden Ventures, Math Ventures, Accomplice, Pre-Cursor Ventures, Garage Capital and Plexo Capital.

As part of the financing, Ricky Lai, a partner at Portage, will be joining Notch’s board of directors.

Notch, previously Chefhero, was founded as a marketplace between restaurants and wholesale distributors. It re-branded as a software solution to help restaurants digitize their back-of-house operations.

To coincide with the new round, Notch is releasing new offerings to provide a unified solution amidst the landscape of fragmented hospitality solutions. It will use the proceeds for expansion and to expand the sales and marketing teams.

“It has not been an easy road for Notch, but I’m very proud of the resiliency of this team. We could not be more excited to be partnering with Portage for this next stage of growth at Notch. As our team continues to unlock digital payments and financial solutions for the foodservice industry, which has been predominantly offline, Portage’s belief that B2B Commerce is coming online aligns perfectly with our own” said CEO Jordan Huck in a statement.

Portage is a global investment platform focused on fintech and financial services with more than $2 billion under management, 65 portfolio companies in 13 countries, and 55 professionals across 4 countries. It is a platform within Sagard, a Canadian multi-strategy alternative asset management firm with over $14 billion under management.