Notch

Notch provides a software platform focused on automating accounts payable (AP) and accounts receivable (AR) for the wholesale foodservice industry. The company offers an end-to-end solution for back-of-house operations, giving restaurant owners, their staff, and wholesale distributors the tools to automate manual tasks like managing orders, reconciling bills, and processing payments. The platform is designed to digitize the entire wholesale food supply chain, helping clients reduce costs, increase visibility, save time, and decrease food waste.

Originally founded as ChefHero in 2015, the company started as a marketplace connecting restaurants with wholesale distributors. The COVID-19 pandemic severely impacted its restaurant-focused business, leading to a pivot and rebranding to Notch. This strategic shift refocused the company on providing a comprehensive software solution to digitize ordering, invoicing, and payments for both restaurants and distributors. Under the leadership of CEO Jordan Huck, Notch has navigated significant challenges, including the pandemic, which he described as an "extinction-level event" for the startup. The pivot proved successful, with the company reporting a 450% increase in sales and revenue since April 2020 and significant growth in its fintech products.

Notch's business model is subscription-based, with specific tools for both sides of the market. For restaurants, the AP Manager solution helps move all supply chain payments online, away from cash and checks. For distributors, the Accounts Receivable (AR) solution automates collections and brings payments online. The company generates revenue through monthly subscription fees and payment processing. Notch has successfully raised approximately $32.6 million in funding over several rounds, with key investors including Portage, Accomplice, and BDC Capital. These funds are being used to expand its presence across North America and further develop its product offerings, with long-term plans to explore services like lending and buy-now, pay-later options.

Keywords: accounts payable automation, accounts receivable automation, foodservice supply chain, restaurant technology, B2B payments, invoice management, wholesale food distribution, back of house software, food tech, financial operations, payment processing, Jordan Huck, restaurant management, order management, cost reduction, supply chain digitization, cash flow management, invoice automation, restaurant procurement, foodservice software