SAN FRANCISCO--(BUSINESS WIRE)--Revel Systems, Inc., a leading provider of iPad and cloud-based POS (point-of-sale) systems for the restaurant and retail industries, today announced that it has closed a $3.7 million round of funding led by global venture capital firm, DCM. The company also announced that DCM General Partner, Jason Krikorian, has joined its Board of Directors. The additional capital will be used to expand sales and marketing, roll out new products, grow its tech sales and support network and further develop its customer base across the United States.
Revel Systems delivers savings and efficiencies to restaurant and retail industries through its comprehensive enterprise point-of-sale products and solutions, which combine the portability, flexibility and ease-of-use of the iPad with cloud-based Software as a Service (SaaS).
“Like many industries before it, the point-of-sale market will be redefined by the efficiency, power, and scalability of cloud-based services," said DCM General Partner, Jason Krikorian, who was also the co-founder of Sling Media, creator of the Slingbox. “The opportunity is amplified by the dire need of the industry to move to more secure products. The Revel Systems solution delivers for restaurateurs a powerful combination of enhanced analytics, performance, and ease of use, all in a secure and affordable package.”
Targeted towards restaurants and stores with multiple locations, Revel Systems’ products serve as the central nervous system for restaurant and store operations, giving staff and management a central place to view and retrieve critical transaction and billing information. In addition, the cloud-based SaaS platform easily scales to multiple locations, while the mobility of the iPad offers access to real-time, up-to-the-minute information. The system is also one of the only POS systems that is fully PCI-compliant including its hardware, software, and network, giving owners a sense of security not found in traditional systems.
“Revel Systems has developed a solution capable of revolutionizing the POS industry,” said Revel Systems CEO and founder, Lisa Falzone. “This new capital, along with DCM’s expertise and support, enables us to grow our market position and help the restaurant and retail industries become more efficient, informed, and economical.”
About Revel Systems:
Revel Systems is an iPad- and cloud-based point-of-sale system for restaurants and retail establishments. Based in San Francisco, Calif., the company has developed a quick, intuitive, and secure system due to its cloud-based technology and the mobility of the iPad. For more information please visit www.revelsystems.com.
About DCM:
DCM is an early stage venture capital firm that has been helping entrepreneurs build world-class technology companies since 1996. The firm’s partners manage over US$2 billion, and have made investments in more than 140 technology companies across the United States and Asia. With offices in Silicon Valley, Beijing and Tokyo, DCM provides hands-on operational guidance and a vast network of business and financial resources to its portfolio companies globally. DCM has backed industry leading companies such as 51job (NASDAQ:JOBS), About.com (acquired by The New York Times Co.), Clearwire (NASDAQ:CLWR), eDreams (acquired by TA), Foundry Networks (NASDAQ: FDRY), Kabu.com (TSE Main: 8703), Sling Media (acquired by EchoStar), SMIC (NYSE: SMI), and VanceInfo (NYSE: VIT) as well as upcoming startups such as Bridgelux, Happy Elements, Mbaobao, PapayaMobile, RockYou, SandForce, Trion Worlds, Ustream, and Vipshop. Recent exits include four China-based IPOs: BitAuto Holdings (NYSE: BITA), Dangdang Inc. (NYSE: DANG), Shanghai Luxin (SZSE: 002565) and Renren (NYSE: RENN) and two US-based exits: Fortinet (NASDAQ: FTNT) and PGP Corporation (Symantec).