San Francisco-based Revel Systems, a provider of iPad point-of-sale systems for the restaurant and retail industries, has raised about $13.5 million in funding. The investor was ROTH Capital Partners. Revel Systems is a portfolio company of Welsh, Carson, Anderson & Stowe.
San Francisco – August 18, 2015 – Revel Systems, the leading iPad Point of Sale (POS)platform, announced an investment of approximately $13.5 Million from ROTH Capital Partners, a relationship-driven investment bank with close connections to Revel. This was Revel’s C-3 investment round, a follow-up to the Series C-1 round led by Welsh, Carson, Anderson & Stowe (WCAS) in November 2014 and Series C-2 round led by Intuit Inc. in December 2014. This brings Revel’s Series C round to approximately $110 Million.
Revel will use the funding to further accelerate its global expansion and to support large enterprise engagements within both existing and new verticals. Revel is now formally recognized as the leader of the new generation POS industry across both SMBs and enterprises, and its Point of Sale platform is being deployed in tens of thousands of locations across the United States and internationally.
“We have a close relationship with Roth,” said Lisa Falzone, Revel co-founder and CEO. “We were not able to accommodate Roth’s investment in the C-1 or C-2 rounds, but we are pleased that we could do it now. Investor interest has remained very strong at ever-increasing valuations, and while we cannot accommodate all investors, we are pleased to welcome Roth to Revel now. Given our accelerating organic growth in SMBs and enterprises and our strategic relationships with industry leaders like Intuit and Apple, we now have to prepare for growth that is beyond our earlier predictions.”
“While looking for a strategic investment in commerce, we came to understand that Revel’s cloud-based POS platform is uniquely positioned to control payments and commerce, not just in physical stores but across the whole omni-channel,” said Gordon Fallone, Managing Director at ROTH Capital Partners. Revel’s POS platform is uniquely scalable, from small SMB locations with one terminal to large enterprises with high volumes and multiple terminals. We have recently seen Revel selected by industry leaders as their POS platform of choice for both SMB and enterprise applications, and we have seen the Revel platform displace Micros and NCRs in some of the largest global enterprise chains. It is unusual to find a company with huge technology leadership and no effective competitors, and Revel’s growth potential and market positioning are amazing. We are pleased to be a part of Revel’s growth story going forward.”
Revel’s iPad POS platform is the most comprehensive POS platform in the industry and enables SMBs, franchise operators and enterprises access a full suite of enterprise-grade operations and reporting features to help them manage and grow their businesses. Revel’s POS platform includes complete front-end order entry, cash register and payment processing, coupled with back-end personnel scheduling, time clock and payroll management, inventory management, comprehensive product/menu management, and advanced reporting to measure and optimize business performance. Revel’s end-to-end commerce platform is indefinitely scalable, from single location SMBs to enterprises with thousands of locations, and is designed to move commerce data seamlessly through open APIs.
To learn more about Revel Systems visitwww.revelsystems.com.
About Revel Systems
Revel Systems iPad POS was founded in 2010 in San Francisco with the goal of changing the point-of-sale market. Founders Lisa Falzone and Chris Ciabarra developed a quick, intuitive and secure iOS-based point-of-sale system by combining cloud-based technology and the mobility of the iPad. Revel’s POS platform offers a feature-rich POS solution for restaurant, retail and grocery establishments with integrated sales reporting, business intelligence analytics, payroll, inventory tracking, customer relationship management and more. Through Revel’s organic solutions and partnerships, Revel iPad POS users can access a full set of commerce solutions, including mobile payments, online ordering, gift or reward cards and advanced financial software suites. For more information on the new standard in point of sale, please visit http://revelsystems.com.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe (“WCAS”) focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, the Firm has organized 16 limited partnerships with total capital of over $22 billion. WCAS has a current portfolio of approximately twenty-five companies. WCAS’s strategy is to partner with outstanding management teams and build value for the Firm’s investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions. The Firm is currently investing Welsh, Carson, Anderson & Stowe XII, L.P. See www.wcas.com to learn more.
About ROTH Capital Partners, LLC
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visitwww.roth.com.