SAN FRANCISCO, Nov. 11, 2014 /PRNewswire/ -- Revel Systems, the leading iPad Point of Sale (POS) platform, today announced it has secured approximately $100 million Series C funding from New York City-based private equity firm Welsh, Carson, Anderson & Stowe (WCAS) and 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 will use the funding to bolster support and operations to meet fast-growing sales and high demand for its best-in-breed iPad POS platform. Revel recently launched the world's largest iPad POS deployment with installations at 700+ Smoothie King locations, and serves large grocery, retail and restaurant establishments including Dairy Queen, Goodwill, Pizza Patron and many more. Revel has now been formally established as the leader of the new generation POS industry across both SMBs and enterprises.
"We're very excited to welcome WCAS as an investor and Sanjay to our Board of Directors. We couldn't have picked a better partner to launch Revel into the next phase of growth," said Lisa Falzone, Revel co-founder and CEO. "Their deep investment expertise in the B2B services and payments industries, plus their proven track record for fueling company growth, will help us further cement Revel as the industry standard POS solution for both small businesses and enterprise customers. Our industry leadership and strategic position in the commerce space have allowed us to attract a top investor and have helped us achieve what appears to be the highest valuation in our industry."
The most comprehensive iPad POS platform in the industry, 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. The Revel platform includes complete front-end order entry, cash register and payment processing, plus back-end personnel scheduling, time clock and payroll, inventory management, comprehensive product/menu management, and advanced reporting to measure and optimize business performance. Revel's end-to-end commerce platform is indefinitely scalable, from single location SMBs to enterprises with thousands of locations, and is designed to move commerce data seamlessly through open APIs.
"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."
To learn more about Revel Systems, which was recently named the top iPad POS solution in the industry, visit www.revelup.com.
About Revel Systems
Revel Systems iPad POS was founded in 2010 in San Francisco 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 Systems software offers a feature-rich POS solution for restaurant, retail and grocery establishments with integrated payroll, inventory tracking, customer relationship management and more. With the introduction of the Revel Marketplace, Revel iPad POS users can now integrate directly into third-party enhancements, including mobile payments, online ordering, gift or reward cards and advanced financial software suites. For more information on the new standard in point of sale, please visit http://revelup.com.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, the Firm has organized 15 limited partnerships with total capital of $20 billion. The Firm is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P. See www.welshcarson.com to learn more.
SS|PR for Revel Systems
Richard L. Tso
Communique PR for Revel Systems
(206) 282-4923 x117
SOURCE Revel Systems Inc