San-Francisco based startup SpotOn, a prominent software and payment firm with comprehensive solutions for restaurants, retail businesses, and enterprise locations, announced a US $300 million Series F investment round on May 19, 2022, bringing its total valuation to US $3.6 billion.
The funds will be utilised to continue creating technology products to assist businesses in meeting the changing needs of today’s consumers. Last year, thousands of companies chose SpotOn as their technology partner, resulting in a tripling of SpotOn’s restaurant segment.
Current investors Andreessen Horowitz (a16z), DST Global, Franklin Templeton, Mubadala Investment Company, and new investor G Squared participated in the round.
What the founder has to say:
Zach Hyman, Co-CEO of SpotOn:
“Because our purpose is to assist our clients to succeed, this investment allows us to continue aggressively investing in technology, service, and distribution to help them prosper. Dragoneer has always believed in our mission, and we appreciate their continued trust and support.”
What the investors have to say:
Marc Stad, Founder and Managing Partner at Dragoneer:
“In today’s tech-driven market, mom-and-pop restaurants and retail operations are facing quickly changing consumer expectations. SpotOn has made it their mission to create tailored solutions to help organizations of all sizes achieve the growth and adaptation they require. We’re thrilled to continue to help the team in their quest to provide the greatest software and payment systems for their customers.”
About the company:
SpotOn is a fast-growing software and payment company that provides comprehensive, cloud-based technologies to businesses. SpotOn provides end-to-end software and payment platforms to streamline operations, improve the customer experience, and maximize profit.
From small family restaurants to Major League Baseball stadiums, SpotOn caters to all sorts and sizes of companies. The additional money will promote the development of tools and technologies that help businesses in the retail, food, and hospitality industries succeed.
It is known for its rapid innovation and industry-leading customer care. SpotOn creates technology that “works the way you work,” with fairness, flexibility, and a human touch, from seamless and efficient point-of-sale systems to integrated management solutions suited for the fast-growing organization.
SpotOn employs 2,000 people, with one of the best product and technology teams in the software and payments sector.
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