Swipely Secures $20 Million Series C Financing to Accelerate Growth
Funding Will Help More Businesses Use Data to Understand Customers and Grow Sales
Marks One of the Largest Venture Investments in New England This Year
PROVIDENCE, R.I., May 29, 2014-- Swipely, the simple way for merchants to understand customers and grow sales, today announced it has completed a $20 million Series C round of financing. Pritzker Group Venture Capital led the investment and was joined by existing investors First Round Capital, Index Ventures and Shasta Ventures. Swipely will use the new funding to accelerate growth, helping more leading restaurants and retailers make smart operating decisions with data.
This round brings Swipely's total venture financing to $40.5 million, and comes on the heels of Swipely announcing it now manages over $2 billion in annual sales on its market-leading platform, providing insights on more than 10 million consumers and being named one of the "Best Places to Work in Rhode Island" by Providence Business News for the second consecutive year.
The Simple Way for Merchants to Understand Customers and Grow Sales
Swipely replaces legacy payment processing services with a powerful cloud-based platform that gives restaurants and retailers a single place to manage customer relationships, measure staff performance, optimize menu selections and monitor online reviews. It cuts time wasted in spreadsheets and searching for information in silos by seamlessly integrating data across the payment network, point of sale and the social Web in one place. Today Swipely works with businesses in over 40 states to grow sales with actionable insights on:
•Customers: Understand best customers and what sets them apart.
•Menu: Understand which menu items bring customers back and are most profitable.
•Service: Measure performance and coach servers to increase sales, service and tips.
•Reviews: Monitor the brand's online reputation across review sites and locations.
"Swipely is a disruptive company with the vision and momentum to help small business use big data to compete in the networked age," said Chris Girgenti, Pritzker Group Venture Capital managing partner. "Angus and his veteran team have built a unique SaaS company that is succeeding in bringing online technology to offline merchants."
Swipely is a good fit for forward-thinking restaurants and retailers grossing over $1 million per location, per year who want to operate smarter and grow faster. Swipely works with both independent and multi-unit operators in hospitality and a variety of other local retail industries. To learn more, visit http://www.swipely.com or call 888-SWIPELY (794-7359).
One of the Fastest-Growing Tech Companies in New England
Swipely's Series C funding marks one of the largest private equity investments in a New England SaaS company this year. Swipely added its 100th employee in May and will use the new funds to continue growing its team across all departments.
Swipely is located in Providence, Rhode Island, and was named by Forbes as one of "America's Most Promising Companies," by Inc. as the fastest growing technology company in Rhode Island, and by Providence Business News as one of the "Best Places to Work in Rhode Island" in 2013 and 2014.
Swipely is looking to hire its next great team members who want to:
•Make an impact: Quickly see the results of your work on the success of our customers.
•Accelerate your career: Learn from veteran entrepreneurs to take risks and grow.
•Change an industry: Use cutting-end online technology to help small businesses win.
"Success at Swipely begins with our growing team of people who are determined to help our customers succeed," said Angus Davis, founder and CEO of Swipely. "Together we are building an online operating system for local commerce, changing the way small businesses operate and grow with data." To learn more about the company's award-winning culture and to explore current openings, visit: http://careers.swipely.com/.
Swipely is a simple way for merchants to understand customers and grow sales. With information from the payment network, in-store systems and the social Web, Swipely makes it easy to understand what brings customers back. Merchants in more than 40 states use Swipely to manage over 2 billion dollars in annual sales and deepen their relationships with over 10 million customers.
Founded by Angus Davis and named to the Forbes Magazine 100 list of "America's Most Promising Companies," the Providence, RI based company includes veterans of Tellme, Microsoft, LivingSocial and SeamlessWeb, and is backed by leading investors including Pritzker Group Venture Capital, First Round Capital, Index Ventures, Shasta Ventures and Greylock Partners, among others.
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