TabbedOut, an ATX Innovation’s app that allows people to pay restaurant or bar tab, has secured $2.05m in Series A round of venture funding.
The investment was made by New Enterprise Associates.
The funding, which follows a $750,000 angel round, brings the total amount raised by the company to date to $2.8m.
The new capital will be used to expand nationally, continue to extend the product’s hospitality partner network, and enhance TabbedOut’s mobile payment technology.
In connection with the funding, NEA General Partner Scott Sandell and Venture Partner Jimmy Treybig will join TabbedOut’s board of directors.
TabbedOut is currently live at over 90 restaurants and bars in 28 cities including Austin, Dallas, Denver, Houston and Chicago. It can be used via iPhone and Android.
FinSMEs
05/10/2010