Oro plans to use the new capital to accelerate its growth, building out its product capabilities but also adding to its sales and go-to-market teams. Bhojwani said that the company spends about half of its budget on research and development. The company is also expanding what it calls the Oro Partner Enterprise Network, or OPEN, which brings together technology providers, consulting firms, and service partners. Unlike many legacy software-as-a-service companies, Oro does not use a per-seat licensing model. Instead, it charges based on transaction volume—a pricing structure that Bhojwani said better reflects the value the platform delivers. “I never believed in [the per-seat] model fundamentally,” he said of seat-based pricing. “It didn’t make sense before and it definitely does not make sense now.”
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The family-owned business, which has just bought the 15-store Compass Coffee based in Washington DC to convert to its main brand, is aiming to open as many as 30 UK stores and between 50 and 70 more this year across the 10 other countries it operates in.
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