Online ordering company Olo has acquired loyalty program provider Spendgo.
The deal will allow Olo to launch a loyalty offering that integrates with its existing products such as online ordering, payments and marketing. Terms were not disclosed.
It’s Olo’s first acquisition since buying middleware provider Omnivore in 2022, and also its first under its new owner, private-equity firm Thoma Bravo.
In a press release, Olo said the acquisition will help it address demand from restaurants for an integrated loyalty system. Sixty-five percent of restaurants using Olo have a loyalty program.
"By bringing loyalty together with the rest of Olo's solutions, we can move faster and deliver a more intuitive experience than ever before,” said Noah Glass, founder and CEO of Olo, in a statement. “This gives our customers a true competitive advantage—cleaner data, unified insights, and the ability to personalize every guest interaction to deliver on our mission: Hospitality at Scale.”
San Francisco-based Spendgo was founded in 2010 by Ivan Matkovic, who will join Olo as part of the acquisition. Its loyalty programs are based on customer phone numbers, rather than a mobile app or a payment method, making them well-suited for in-store enrollment.
More than 120 restaurant brands use loyalty programs built by Spendgo, including Cold Stone Creamery, Golden Chick, Captain D’s and Shipley Do-Nuts.
"Restaurants need technology partners who understand the complexity of guest engagement across every touchpoint,” Matkovic said in a statement. “Together with Olo, we can make it easier for brands to acquire customers, drive repeat visits, and maximize guest lifetime value."
Olo’s loyalty product, Olo Loyalty, is available now, thanks to its existing integrations with Spendgo. Deeper ties between Spendgo and Olo’s other products are planned for early next year, the company said.
The transaction caps a momentous year for Olo, which was sold to Thoma Bravo in September for $2 billion in a take-private deal. New York-based Olo is one of the largest tech providers in the industry, with more than 750 restaurant brands using its technology.
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