Swipely raises $20m funding

Swipely raises $20m funding

Payments and customer analytics startup Swipely has raised $20 million in a series c funding round led by Pritzker Group Venture Capital.

The round was also joined by existing investors First Round Capital, Index Ventures and Shasta Ventures, and takes the Rhode Island-based firm's total financing to $40.5 million.

Earlier this month Swipely revealed that it is now managing over $2 billion in sales for its retail and restaurant clients through its cloud-based platform.

The company's key selling point is its analytics capabilities which help clients manage customer relationships, measure staff performance, optimise menu selections and monitor online reviews.

The system is designed to cut time wasted in spreadsheets and searching for information by integrating data across the payment network, point-of-sale and the social Web in one place.

The new money will be used to attract more clients and build up Swipely's team, which currently stands at 100 employees.

Angus Davis, CEO, Swipely, says: "Success at Swipely begins with our growing team of people who are determined to help our customers succeed. Together we are building an online operating system for local commerce, changing the way small businesses operate and grow with data."

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