Revel Systems, the leading iPad Point of Sale (POS) platform, announced an investment of approximately $13.5 Million from ROTH Capital Partners, a relationship-driven investment bank with close connections to Revel.
This was Revel's C-3 investment round, a follow-up to the Series C-1 round led by Welsh, Carson, Anderson & Stowe (WCAS) in November 2014 and Series C-2 round led by Intuit Inc. in December 2014. This brings Revel's Series C round to approximately $110 Million.
Revel will use the funding to further accelerate its global expansion and to support large enterprise engagements within both existing and new verticals. Revel is now formally recognized as the leader of the new generation POS industry across both SMBs and enterprises, and its Point of Sale platform is being deployed in tens of thousands of locations across the United States and internationally.
"We have a close relationship with ROTH," said Lisa Falzone, Revel co-founder and CEO. "We were not able to accommodate ROTH's investment in the C-1 or C-2 rounds, but we are pleased that we could do it now. Investor interest has remained very strong at ever-increasing valuations, and while we cannot accommodate all investors, we are pleased to welcome ROTH to Revel now. Given our accelerating organic growth in SMBs and enterprises and our strategic relationships with industry leaders like Intuit and Apple, we now have to prepare for growth that is beyond our earlier predictions."
"While looking for a strategic investment in commerce, we came to understand that Revel's cloud-based POS platform is uniquely positioned to control payments and commerce, not just in physical stores but across the whole omni-channel," said Gordon Fallone, Managing Director at ROTH Capital Partners. Revel's POS platform is uniquely scalable, from small SMB locations with one terminal to large enterprises with high volumes and multiple terminals. We have recently seen Revel selected by industry leaders as their POS platform of choice for both SMB and enterprise applications, and we have seen the Revel platform displace Micros and NCRs in some of the largest global enterprise chains. It is unusual to find a company with huge technology leadership and no effective competitors, and Revel's growth potential and market positioning are amazing. We are pleased to be a part of Revel's growth story going forward."
Revel's iPad POS platform is the most comprehensive POS platform in the industry and enables SMBs, franchise operators and enterprises access a full suite of enterprise-grade operations and reporting features to help them manage and grow their businesses. Revel's POS platform includes complete front-end order entry, cash register and payment processing, coupled with back-end personnel scheduling, time clock and payroll management, 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.