SpotOn, a San Francisco, CA-based software and payments company with comprehensive solutions for restaurants and retail businesses, raised $125m in Series D funding, increasing its valuation to $1.875 billion.
The round was led by Andreessen Horowitz with participation from current investors, including DST Global, 01 Advisors, Dragoneer Investment Group, and Franklin Templeton, as well as new investor Mubadala Investment Company.
The company intends to use the capital to further accelerate product development and expand its market presence.
Led by Zach Hyman, Co-CEO and Co-Founder, SpotOn provides SMBs with a cloud-based technology platform to run and grow. A leader in fully-integrated restaurant management systems and small business technology, the company offers solutions which include marketing, website development, reservations, online ordering, digital loyalty, review management, and both retail and restaurant point-of-sale (POS) solutions. SpotOn has 1,200 employees and maintains offices around the world, including San Francisco, Chicago, Mexico City, Detroit, Denver and Krakow.
Nearly 8,000 businesses have already used the platform.