Revel will use $100 million in Series C funding to bolster support operations as its iPad POS platform sees fast-growing sales and high demand.
The funding round was led by New York City-based private equity firm Welsh, Carson, Anderson & Stowe (WCAS), as well as other strategic investors. The round includes an initial $65 million investment from WCAS and an additional $25 million equity line available from WCAS.
Sanjay Swani, a general partner at WCAS and Co-Head of the WCAS Information/Business Services industry practice, will join Revel’s Board of Directors.
Revel recently launched the world’s largest iPad POS deployment with installations at more than 700 Smoothie King locations, and serves large grocery, retail and restaurant establishments including Dairy Queen, Goodwill, Pizza Patrón and many more.
Revel has now been formally established as the leader of the new generation POS industry across both SMBs and enterprises, the company says. The Revel solution gives food service and retail SMBs and franchise operators access to a full suite of enterprise-grade operations and reporting features to help them grow their business.
“Revel is hands-down the best POS technology on the market, and we’re very impressed with its cross-vertical application and scalability that make it a perfect fit for any size business,” Mr. Swani said. “There is a huge market and very high demand for this technology. We look forward not only to Revel’s ongoing growth but also the success of the many customers who will use this powerful and affordable solution to enhance their own business. ”
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