Revel Systems Raises $10.1 Million In Series B
Revel Systems is an iPad point-of-sale (POS) system for restaurants, grocery stores, and retail businesses. Revel Systems has raised $10.1 million in Series B funding. The company will be using the funding for international and domestic expansion including new offices in Asia and Europe. The funding was provided by Tim Tighe (former CEO of Hungry Jack’s) and Sean Tomlinson (a company director in Asia and Australia). Tomlinson is joining Revel’s board of directors. Tighe and Tomlinson is going to help expand the Revel iPad POS to Asia.
“As Revel has continued to build upon its growth, it became increasingly important for us to be very selective in choosing who we participated with in our next round of funding – not only from an investment perspective, but also finding personalities that are a proper fit to the Revel family who share in our long-term strategy for the company,” stated Revel Systems CEO Lisa Falzone. “Since our last round of funding, we’ve reached profitability and have experienced massive growth, so we had the luxury of being selective in who we brought in to the team in order to properly continue to move the business forward.”
Revel Systems’ revenue has doubled over the past six months. They will also increase their headcount at their headquarters in San Francisco by 50%.