Published On: Tue, Aug 18th, 2015

iPad Point-Of-Sale Company Revel Systems Raises $13.5M To Expand In Asia And Europe

iPad point-of-sale height builder Revel Systems has lifted $13.5 million in appropriation from ROTH Capital Partners to fuel a fast growth. A follow-up to Revel’s Series C, that it announced final November, a new collateral brings that round’s sum to about $113.5 million, valuing a association during some-more than $500 million. The company, that is eyeing an initial open offering, also disclosed that financial program developer Intuit was an financier in a Series C.

Revel is scheming to enhance into general markets quickly, targeting European and Asian countries where some of a clients already have franchises, says co-founder and arch record officer Chris Ciabarra. Its craving users have as many as 2,000 sell locations, though Revel also serves small- to medium-sized businesses. The association now has about 14,000 to 15,000 terminals commissioned and that volume is flourishing during about 1,000 terminals per month.

Ciabarra says Revel will continue differentiating from other inscription POS systems by including a far-reaching array of facilities in a program apartment so it can hoop deliveries and shipping in further to remuneration processing. This allows Revel to contest with craving program like Micros System, that was acquired by Oracle for about $5.3 billion final year. Revel also recently combined Ethernet connectors for clients who wish to use iPads to hoop exchange though can’t rest on wireless connections, such as sports stadiums and supervision agencies.

In a prepared statement, ROTH Capital Partners handling executive Gordon Fallone said

“While looking for a vital investment in commerce, we came to know that Revel’s cloud-based height is singly positioned to control payments and commerce, not only in earthy stores though opposite a whole omni-channel. Revel’s POS height is singly scalable, from tiny SMB locations with one depot to vast enterprises with high volumes and mixed terminals. We have recently seen Revel comparison by attention leaders as their POS height of choice for both SMB and craving applications, and we have seen a Revel height excommunicate Micros and NCRs in some of a largest tellurian craving chains. It is surprising to find a association with outrageous record care and no effective competitors, and Revel’s expansion intensity and selling position are amazing.”

The association skeleton to finish one some-more turn of appropriation before holding an IPO in a subsequent 18 to 24 months, Ciabarra says.

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