We are thrilled to share some exciting news today.
Foodbomb has been acquired by Ordermentum, a move that has been accompanied by a $16 million capital raise to solidify its position as Australia's premier ordering, payments and marketing platform for the wholesale food and beverage industry.
Ordermentum has been at the forefront of the digital transformation of the hospitality industry since 2014. Their mission is to empower both suppliers and venues to conduct smarter and more sustainable business. Ordermentum processes over $1 billion in transactions annually, serving nearly 40,000 venues and 750 suppliers across the nation. As a trusted industry leader, Ordermentum is committed to digitizing operations, streamlining processes, and driving business growth in the ever-evolving food and beverage landscape.
Over the past six years, Foodbomb has embarked on an incredible journey. We are immensely proud of the milestones we've achieved. From being honoured as Australia's best startup in 2018 to weathering the challenges brought on by Covid-19 in the hospitality industry, our journey has been nothing short of remarkable. We've processed nearly $100 million in transactions, comprising 400,000 orders from 13,000 venues, and have worked closely with 350 supplier partners.
The acquisition of Foodbomb was driven by the increasing demand from Ordermentum’s venues for a comprehensive ‘one-stop-shop’ solution for their wholesale food and beverage needs, but will simultaneously help suppliers find new customers through Ordermentum’s low-cost marketing channel. We believe this acquisition holds tremendous potential for all foodservice businesses. Ordermentum boasts a network of 40,000 venues (generating over 25,000 leads for its existing suppliers each year) and 750 suppliers nationally. We are excited to extend access to this market to our suppliers and venues. If you are an existing customer of Foodbomb, nothing changes for you just yet. You can continue to order or receive orders on Foodbomb the way they've always done. But over time, venues will be able to order from even more suppliers in one place, as well as getting the benefit of advanced Ordermentum features and suppliers will access unprecedented business opportunities with exposure to nearly 40,000 venues.
At Foodbomb, we have long admired Ordermentum's business since our launch in 2017, and more recently, we've had the privilege of getting to know Adam Theobald and the exceptional Ordermentum team. The synergies between our two companies have always been evident, and when Adam approached us with the idea of merging late last year, I was immediately excited by the potential and Adam's vision for the future of the industry.
While our paths to success may have been slightly different, both Foodbomb and Ordermentum share a common origin story rooted in the desire to revolutionize an industry that had long relied on antiquated practices. Our commitment to introducing innovative digital solutions to the foodservice sector has been at the heart of our missions.
The coming together of Ordermentum and Foodbomb will create an unrivaled powerhouse in the B2B foodservice arena. With the largest combined venue footprint and revenue in the digital space, we will stand head and shoulders above all others in this industry.Beyond the remarkable commercial prospects that this merger brings, it's worth noting that our cultures align seamlessly. Both companies have fostered strong, passionate teams dedicated to creating exceptional products that genuinely solve industry challenges.
We are eager to embark on this journey together, and we look forward to the immense opportunities that lie ahead for Ordermentum, Foodbomb, and the entire B2B foodservice community.
Foodbomb is the smarter ordering solution for food service. Order everything you need in one place, find the right suppliers and get full control of your COGSTell me more