Odeko, a technology and operations partner for local coffee shops and food businesses, has secured $126 million in Series E funding.

The round includes $96 million in equity led by B Capital and a $30 million credit facility from Banc of California. The company aims to help small and mid-sized businesses compete with large global brands by providing a platform that supports their growth.

The funds will be used for three main purposes: expanding services and offering cost savings to customers, acquiring businesses to enhance its market presence and strengthening its leadership team.

Odeko currently serves over 14,000 customers, including regional and national businesses like Joe Coffee, Birch and Van Leeuwen. The platform enables customers to purchase supplies, track trends and finance equipment, leading to increased revenue, lower expenses and reduced environmental impact.

Dane Atkinson, CEO and founder of Odeko, said: “We’re excited to expand the Odeko ecosystem. This new funding will allow us to offer an unparalleled suite of services to help independent businesses gain access to the unified buying power and technology of larger chains and thrive. With Odeko’s comprehensive solutions, our customers can focus on what they do best: serving their communities and creating a great customer experience.”

The company is also expanding by acquiring Butter Insurance, a platform offering specialized insurance solutions for local businesses. This acquisition will provide Odeko’s customers with more cost-effective and tailored insurance options.

To support its growth, Odeko has appointed Gautam Grover as president and Ken Banas as CFO, both of whom bring extensive leadership experience in the food industry.