Exit41, an Andover, MA-based maker of software that captures takeout, delivery, and catering orders at restaurants, has been recapitalized with $6 million in new funding, erasing previous venture investments of more than $20 million, the blog peHUB reported on Friday. The company was not available for comment at press time, but the peHUB report says the recap funding came from new investors GrandBanks Capital, Contour Venture Partners, and Dace Ventures, in addition to existing investor Fidelity Investments. Exit41, which started in 1998 as Elm Square Technologies, is also developing a scalable platform for customers to order takeout food without having to use a phone.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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