Chowly, a point-of-sale system for restaurants, has raised nearly $4.7 million, according to an SEC filing. The company is targeting a total raise of $5.8 million.
The round is led by MATH Venture Partners with participation from Valor Equity, Chicago Ventures, Hyde Park Venture Partners and others. Chowly had previously raised just $700,000 from MATH Venture Partners, Domenick Montanile and others.
Chowly aims to help restaurants better manage the influx of delivery orders they receive from a variety of services, such as Grubhub, Delivery.com and Chownow.
In May, Square launched a point-of-sale system for restaurants that integrates on-demand delivery platform Caviar. Down the road, Square said it envisions third-party applications from companies like Postmates, UberEats and DoorDash.
By Megan Rose Dickey
July 13, 2018
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