ShopKeep, a tablet-to-cloud payments and POS platform for retailers and restaurants, has obtained $65m in a funding round led by Tribeca Venture Partners.
The latest fundraising included equity and debt funding. Tribeca was joined by ShopKeep’s existing backers alongside First Data and Salesforce Ventures in the funding round.
ORIX Growth Capital and Square 1 Bank, a unit of Pacific Western Bank, offered the debt funding portion. Previously, Tribeca led ShopKeep’s A funding round.
ShopKeep CEO Michael DeSimone said: “With the latest investments from Salesforce Ventures and First Data, ShopKeep has firmly established its position as a leader in SaaS based point-of-sale and payment platforms.”
With the new investment, ShopKeep aims to strengthen its service offering. This includes expansion of its ShopKeep Capital service and enhancing its new Android-based platform.
The company also intends to expand its geographical reach using the new capital.
Tribeca co-founder and managing partner Brian Hirsch said: “Small business owners are a vital part of the business community and ShopKeep provides a powerful cloud-based point of sale platform that serves as the de facto operating systems for its customers.
“ShopKeep’s software not only helps its customers run their day-to-day business but also can assist to optimise sales, profit, customer loyalty and operations.”
ShopKeep’s software enables businesses to optimise staffing, manage inventory and access sales reports on a single cloud-based platform. The firm operates in New York City, which serves as its base, along with Portland, Chicago, and Belfast and serves over 25,000 customers.
