Payment firm SpotOn secures $300 M in Series F round led by Dragoneer Investment Group
SpotOn, a leading software and payment firm with comprehensive solutions for restaurants, retail businesses, and enterprise locations, announced that it has raised $300 million in Series F funding, bringing its total valuation to $3.6 billion.
Dragoneer Investment Group, LLC (“Dragoneer Investment Group”), a growth-oriented investment firm, led the round, with current investors Andreessen Horowitz (a16z), DST Global, Franklin Templeton, and Mubadala Investment Company, as well as new investor G Squared, continuing to participate.
The money will be used to continue developing technology products that will help businesses meet the changing needs of today’s consumers. Thousands of companies have chosen SpotOn as their technology partner in the last year, leading to the tripling of SpotOn’s restaurant segment in that time.
“This investment allows us to continue aggressively investing in tech, service and distribution to help our clients thrive, because their success is our mission. Dragoneer believed in our vision from the very beginning, and we are grateful for the ongoing confidence and support of such a respected firm,”Zach Hyman, Co-CEO of SpotOn.
From small family restaurants to Major League Baseball stadiums, SpotOn caters to all sorts and sizes of companies. The additional money will promote the development of tools and technologies that help businesses in the retail, food, and hospitality industries succeed.