TechCrunch
iPad-based point-of-sale platform maker Revel Systems has raised $100 million in a Series C round of funding, multiplying the startup’s existing funding raise by almost a factor of ten. The new funding comes from NYC private equity firm Welsh, Carson, Anderson & Stowe, along with some select strategic investors, and includes both an up-front $65 million investment from WCAS itself, as well as $25 million in an equity line. As part of the deal, Revel will take on its first external board member, adding Sanjay Swani, WCAS general partner.
The big Revel raise marks the beginning of a period of aggressive hiring and expansion, company co-founders (and the only previous board members before this round) Lisa Falzone and Chris Ciabarra told me. Their company has close to 10,000 terminals deployed and in active use, employs 200 people and is already break-even in terms of annual financials. This new funding will help it
“We’re expanding globally, and in the U.S. also of course,” Ciabarra said. “We’re gonna be taking over Europe as our next battle.”
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