iPad POS vendor Revel to expand after securing $10 million investment

June 27, 2013

The series B funding comes from two private investors in the Asia-Pacific, both of whom have a history in the restaurant business.

Revel has said that it will use the money to expand its headquarters by 50% and to build construction of a new distribution center for its iPad POS hardware on the west coast, thereby adding to its existing location in Orlando, Florida.

Prior to this announcement, Revel had managed to attract $3.7 million in funding since its launch in late 2010.

The company, which was co-founded by CEO Lisa Falzone and CTO Chris Ciabarra, has however grown at an alarming rate since then and now says that it is growing 380% annually and processing more than $33 million a month.

The firm hit profitability after just one year of business and now finds its iPad POS solution live in 1,200 enterprise locations in retail, restaurants and grocery stores. Some of the better known clients include iPad accessory maker Belkin and not-for-profit agency Goodwill.

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