SpotOn Raises $300M, acquires Appetize and ups valuation to $3.15B

Lauren Zyber

By on 09/14/21

SpotOn Raises $300M, acquires Appetize and ups valuation to $3.15B

SpotOn is one of the fastest-growing software and payment companies with a comprehensive suite of solutions for restaurants and retail businesses. Yesterday the company announced $300 million in Series E funding, led by Andreessen Horowitz (a16z). 

This new funding comes only four months after SpotOn's Series D, and it raises the company's valuation from $1.875 billion to $3.15 billion. 

The funding will be used to acquire Appetize, a leading digital and mobile commerce platform. It's used by enterprise businesses such as sports and entertainment venues, theme parks, zoos, college campuses, and more.

“From our first meetings with Appetize, we knew they had great people and a great product, and the more we worked together it became clear that our two companies were stronger together,” Matt Hyman, Co-CEO of SpotOn, said in a press release. “We are combining our complementary technologies, extending our market coverage and retaining our shared passion for great service and support for our clients. SpotOn is quickly becoming a part of everyday life for consumers across the country whenever they shop, dine, or visit a stadium or a college campus.”

With the acquisition and SpotOn's SMB expertise, the company is positioned to rapidly expand its reach to serve the middle market, further showcasing the startup's momentum and market potential.

SpotOn is based in San Francisco with offices around the country, including Chicago and Detroit. SpotOn is hiring engineers and other corporate roles both locally and remotely. Learn more about the company and check out open jobs at SpotOn.

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