TabbedOut, an Austin, Texas-based provider of a mobile payments platform for bars and restaurants, secured $21.5m in Series C financing.
The round was led by Wellington Management Company, with participation from previous investors New Enterprise Associates and Morgan Creek Capital Management.
The company, which has raised $39m to date, plans to use the new funds to continue to accelerate user acquisition through automated loyalty and rewards programs, integrations with other mobile consumer services, and expansion into 20 new U.S. metro markets and internationally shortly thereafter, advance product development of the mobile payment app and its capability to deliver data insights to merchants and brands.
Led by Alex Broeker, CEO, TabbedOut is a mobile payment app for bars and restaurants to anonymously track customer baskets and behavior, creating comprehensive consumer databases that offer actionable insights into their customer’s spending habits. Its merchant UI Periscope provides a dashboard for any venue to offer rewards to existing customers and incentives to bring new ones in.
TabbedOut is currently installed in more than 10,000 venues in the U.S. Its credit card partnerships includes Citibank while partner brands include Anheuser-Busch™, Dos Equis™, Heineken® and Deep Eddy Vodka.