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05/18/2022

SpotOn Raises $300M

Software and payment company has tripled revenue in the restaurant sector over the past year as businesses look to grow revenue, decrease costs, and improve the guest experience.
Anna Wolfe
Senior Editor - Restaurants
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SpotOn, a software and payment company with comprehensive solutions for restaurants, retailers and venues, has raised $300 million in Series F funding, raising its valuation to $3.6 billion. The new funding will support continued innovation of tools and software that focus on the success of businesses in the retail, food and hospitality sectors.

The company will use the funding to further develop technology products that enable businesses to meet the evolving needs of today's consumer. In the last year alone, tens of thousands of businesses have chosen to make SpotOn their technology partner, contributing to the tripling of SpotOn’s restaurant segment in that period.

SpotOn's Senior Director of Consumer Products receives HT's Rising Star Award   

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SpotOn has continued to rapidly deliver new innovations and grow market share by:

  • Strengthening its flagship SpotOn Restaurant product with the acquisition and integration of Dolce, a labor management solution which streamlines payroll, scheduling, tip-pooling and compliance
  • Launching SpotOn Retail, an omnichannel retail platform that allows independent retailers to compete with big-box stores and ecommerce giants by selling in store, online, or on the go through one seamless, intuitive dashboard
  • Adding Lisa Banks (Chief Financial Officer), JiNa Han (Chief People Officer), and Mark Brodahl (Chief Revenue Officer) to the executive team

The round was led by Dragoneer Investment Group, LLC, an investment firm, with continued participation from existing investors. The funding comes eight months after SpotOn's Series E and increases its valuation to $3.6 billion. 

 

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