It was announced in July that Gores Holdings II would act as a vehicle for Beverly Hills-based Platinum Equity-owned Verra Mobility, which handles tolling transactions and violations for a global client base, to go public in a deal valuing the company at $2.4 billion.
The Verra Mobility deal features some brotherly love: Gores Group is the firm run by billionaire Alec Gores (No. 26 on the Business Journal’s 2018 list of Wealthiest Angelenos with an estimated net worth of $2.9 billion) and Platinum Equity is the outfit run by younger brother Tom Gores (No. 16 on the 2018 Wealthiest list with an estimate fortune of $4.3 billion).
Made to Order
A member of the fourth-generation of the family that owns Canter’s Deli has raised $9.5 million in a series A round for a software system that was developed to manage to-go orders and deliveries at the famous Fairfax district eatery and now is marketed to other restaurants.
The funding for Santa Monica-based Ordermark Inc. closed on Sept. 6, according to Chief Executive Alex Canter, who founded the company along with two partners who are not part of the family.
The latest round follows $3.5 million in seed money that came in March from TenOneTen, Mucker Capital and Act One Ventures, all based in Los Angeles.
The series A round was led by London-based Nosara Capital, with participation of Vertical Venture Partners, Techstars Ventures, Riverpark Ventures, Matchstick Ventures, as well as TenOneTen, Mucker Capital, Act One Ventures and AARD Capital, another earlier investor, according to Ordermark.
Canter declined to disclose financials, but said the startup now serves hundreds of locations of independent and chain restaurants, and counts 35 employees. The company will use the latest funding to beef up its sales and software engineering staffs.
Have a deal tip? Henry Meier can be reached at email@example.com or (323) 556-8321.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Arizona Acquisition Adds New Market for EP Wealth Advisors
- EP Wealth Adds Again With Deal in Colorado
- Deals & Dealmakers: EP Wealth Adds Donnelly
- EP Wealth Advisors Continues Roll-Up
- Canter’s Scion Raises $9.5M for Delivery Software Firm
- Torrance’s EP Wealth Advisors Scoops Up Millie Capital Management
- EP Wealth Advisors Names Goshtigian Chief Executive
- Ordermark Raises $18 Million to Expand Business