Swipely has secured a $12 million Series B round of financing, which will fund its nationwide expansion, the payments and marketing company announced today.
Swipely handles more than $700 million in annual sales for merchants in 130 municipalities, the company says. It launched its current product, called Swipely Payments Marketing, in June 2012.
Shasta Ventures led the financing round, which also included First Round Capital, Greylock Partners and Index Ventures.
"We are excited to be part of a company that finally brings the power of data to the offline world, ultimately translating into happy customers and more revenue," said Sean Flynn, partner at Shasta Ventures, in a press release.
Swipely's technology analyzes customer payments data, along with other variables, to provide marketing knowledge to merchants. For example, D'mai Urban Spa in Brooklyn, N.Y. learned through Swipely that it gets more customers on rainy days.
"Swipely replaces legacy merchant payment and marketing approaches with a powerful online operating system for local commerce to make smarter, faster business decisions," said Angus Davis, founder and CEO of Swipely, in the release. "We empower hundreds — and soon thousands — of leading small businesses with actionable insights to help them succeed and grow."
Swipely's original product, launched in May 2010, was a consumer-facing system that allowed users to share purchase information over social media by linking their social media accounts to credit cards.