Secured funding
Tabbedout, an app that enables customers to pay their tab from a mobile in bars and restaurants across the US, has closed USD7.75m in a series B round. The investment came from NEA, Heartland Payment Systemsand Morgan Creek Capital and according to the company will be used for marketing and growth acceleration.
“To satisfy consumer demands and address hospitality needs, restaurants and bars are looking for easy, cost-effective ways to generate revenue growth for their business, and create a more secure and personalized relationship with their customers,” said Rick Yang, principal at New Enterprise Associates. “Tabbeout has created a truly innovative solution for the hospitality industry, giving merchants key insights into customer behavior and feedback, which greatly improves the consumer experience.”
“As the industry gives way to the ‘appification’ of business solutions, the viability of a sustainable mobile payments platform depends on ongoing innovation as well as the ability to integrate with emerging technologies and enable merchants to work with the payments and POS providers of their choice,” said Bob Carr, chairman and CEO of Heartland. “We’re excited to contribute to Tabbedout’s continued growth and encourage other restaurant service providers to join us as we deliver this app to restaurants and bars across the country.”
Whitepapers
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