ShopKeep POS, a New York-based provider of point of sale software for managing retail shops and restaurants, raised an additional $25m in Series C funding.
The round was led by Thayer Street Partners with participation from existing investors Canaan Partners, Tribeca Venture Partners, TTV Capital and Contour Venture Partners as well as Tom Glocer, former CEO of Thomson Reuters and Thayer Street advisory board member, and Matt Coffin, founder of LowerMyBills and frequent Thayer Street collaborator.
The company intends to use the funds for expansion and product updates.
Founded in 2008 by former wine and grocery store owner Jason Richelson, ShopKeep POS provides a cloud-based solution that allows business owners nationwide to set-up their registers in minutes, accept cash and credit cards with their choice of processor, view real-time sales on their smartphone and track inventory and staff.
The company, which recently launched ShopKeep Mobile, a handheld mobile POS system designed for the iPod touch and supports a 2D barcode scanner and encrypted credit card reader to accept payments, now powers over 10,000 small businesses located across the U.S. and Canada, managing more than $1.8 billion in payment processing annually. The company recently opened its first international location in Belfast, Northern Ireland, and has already hired 14 local employees to expand into Europe. It employs more than 100 people and will soon open a West Coast location to complement its headquarters in SoHo, NYC.