Revel Systems Secures $10.1 Million In Series B Funding To Aid iPad Point-of-Sale Expansion Welcomes Two International Executives as Investors and Board Members To Spearhead Overseas Growth for Revel's iPad POS System
SAN FRANCISCO, June 26, 2013 /PRNewswire/ -- Revel Systems (http://www.revelsystems.com), the leader in iPad point-of-sale (POS) systems for restaurant, grocery and retail businesses, today announced it has secured $10.1 million in expansion capital. This new round of funding will support the ongoing international and domestic expansion of the Revel System's iPad POS software, as well as including new offices in Asia and Europe. Headcount is also set to increase massively in line with the exponential growth the company has achieved since its inception in 2010.
Funding has come from two private investors based in Asia-Pacific. Tim Tighe, former CEO of Hungry Jack's (Australia's Burger King master franchisee) and senior vice president of McDonald's Southeast Asia, has invested and will join the company's Advisory Board. Cornerstone investment has come from Sean Tomlinson, a seasoned entrepreneur and company director in Asia and Australia, who joins Revel's Board of Directors. Both Tighe and Tomlinson will be essential in assisting Revel's iPad POS system expansion into the Asian region.
"I am delighted to become a part of the Revel family," said Sean Tomlinson. "Through my experience in the trenches of running and operating restaurants, I've seen that iPad-based point-of-sale software is a game-changing technology that retailers and customers both love. I expect the demand for the product to continue to grow massively over the next few years as retailers and restaurateurs move away from traditional fixed systems to cloud-based networks, and Revel is the most advanced system on the market."
"Revel Systems has been the leading technology in the point-of-sale space in the U.S. for the past couple of years, so a natural move is for the company to expand into international areas, and I'm happy to bring my expertise to the table," said Tim Tighe. "This company is making huge strides for revolutionizing point-of-sale as we know it, and I'm looking forward to being a part of that."
The bulk of funds raised will go to increasing the company's sales and servicing capacity. With the company's revenue doubling over the past six months, Revel will immediately increase headcount at its San Francisco headquarters by 50 percent. The company also plans to begin construction of a new distribution center for iPad POS hardware on the west coast, in addition to its existing location in Orlando, Florida.
"As Revel has continued to build upon its growth, it became increasingly important for us to be very selective in choosing who we participated with in our next round of funding – not only from an investment perspective, but also finding personalities that are a proper fit to the Revel family who share in our long-term strategy for the company," stated Lisa Falzone, CEO of Revel Systems. "Since our last round of funding, we've reached profitability and have experienced massive growth, so we had the luxury of being selective in who we brought in to the team in order to properly continue to move the business forward."
Revel Systems iPad POS System has many unique features in the market, among them the ability to operate without an Internet connection in offline mode as well as a unique suite of robust reporting, inventory, payroll, time-attendance and integration with third parties such as reward card companies, gift-cards companies, loyalty/reward companies, and ERP systems.
About Revel Systems for iPad Point-of-Sale Systems
Revel Systems was founded in 2010 in San Francisco, CA 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 recently released a grocery store ready iPad POS system to add to their award-winning restaurant and retail software. Revel Systems software offers a feature-rich POS solution with integrated payroll, inventory tracking, customer relationship management and more. With the introduction of the Revel Marketplace, Revel POS users can now integrate directly into third-party enhancements, such as mobile payments, online ordering, gift or reward cards and advanced financial software suites. For more information on the future of commerce, please visit http://www.revelsystems.com.
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SOURCE Revel Systems