SpotOn announced $125 million in Series D funding, increasing its valuation to $1.875 billion. The round was led by Andreessen Horowitz (a16z), a technology and software investor, with continued participation from current investors.
SpotOn develops technology that integrates the core needs of SMBs into a seamless, reliable system that becomes the backbone of their operation, providing the ease of one integrated platform while saving in payments and software fees to multiple vendors.
- For restaurants, this means eliminating the need for multiple platforms and high-cost third-party vendors by combining point-of-sale, reservations, online ordering, delivery, loyalty, website development, enterprise reporting, and more, into one integrated platform.
- For service and retail clients, SpotOn provides point-of-sale, eCommerce, integrated delivery solutions, inventory management, loyalty, appointment software, website development and more that allows them to compete and win in the marketplace.
- All clients have access to the shared SpotOn platform, which includes essential business tools like digital marketing, review management and data analytics, as well as a complete payment acceptance ecosystem, including invoicing, virtual terminal and the ability to accept payments in-store, online or on-the-go.
Nearly 8,000 businesses have already made the switch to SpotOn in 2021 and the company expects that number to triple by the end of the year. Restaurants and small businesses are turning to SpotOn for its no contract policy, personal service, fair pricing and integrated, cloud-based platform. Investments in innovation ensure that SpotOn’s clients have a future-proof solution with a steady stream of upgrades and improvements so they will have ready access to the best technology for the long-term.