Tablet point of sale technology provider Revel Systems has raised $10.1 million in expansion capital that it will use to increase staff as well as open new offices in Asia and Europe.
The funding comes from two private investors: Tim Tighe, the former CEO of Hungry Jacks and senior vice president of McDonalds Southeast Asia; and Sean Tomlinson, an entrepreneur with experience in Asia and Australia. Tighe will join Revels advisory board while Tomlinson will join its board of directors. Both executives will assist the companys Asian expansion strategy.
"Through my experience in the trenches of running and operating restaurants, I've seen that iPad-based point-of-sale software is a game-changing technology that retailers and customers both love. I expect the demand for the product to continue to grow massively over the next few years as retailers and restaurateurs move away from traditional fixed systems to cloud-based networks, said Tomlinson in a release.
Revels iPad point of sale system can operate with or without an Internet connection. It handles reporting, inventory, payroll, time-attendance and integration with third parties such as reward card companies and enterprise resource planning systems. Revel also recently added technology that allows the use of photo verification with a card swipe on an iPad.
The company primarily targeted restaurants, but has begun moving into other merchant categories.