ShopKeep Raises $10 Million

Posted Dec 6, 2012

ShopKeep is a New York based startup company that has built a point-of-sales app for the iPad.  The company has raised $10 million in a second round of funding.

ShopKeep has a credit card reader product that plugs into the iPad.  ShopKeep also keeps track of employee activity.  The company handles credit card processing and they take a percentage of each swipe.

The app also lets merchants use existing merchant accounts with financial institutions like Bank of America.  ShopKeep has around 3,000 merchants as clients.

They are also signing larger chains and are helping them convert from their old point-of-sales systems to the ShopKeep POS.  They will be using the funding to hire more engineers.

The $10 million Series B round was led by Canaan Partners.  Other investors in this round include Tribeca Venture Partners and TTV Capital.