SpotOn Raises $40 Million Funding Round Led by Franklin Templeton and Dragoneer Investment Group

Funding Rounds

▤ Summary

SAN FRANCISCO--(BUSINESS WIRE)--SpotOn Transact, LLC (“SpotOn”), an innovative payments and software company, today announced $40 million in new funding led by Franklin Templeton, with significant participation from Dragoneer Investment Group. As part of these efforts, the company plans to continue growing its field sales team, and expects to add an additional 100 employees in its high-growth SpotOn Restaurant division. “SpotOn’s rapid growth and ability to bring real value to the SMB market has been incredibly impressive,” said Chris Anderson, Vice President and Portfolio Manager at Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Dragoneer has been an investor in companies such as Airbnb, Alibaba, AmWINS, Appfolio, Dollar Shave Club, Etsy, Mercado Libre, Nubank, PointClickCare, ServiceNow, Slack, Spotify, Square, Twilio, Uber, and others.

$ Funding

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Amount $40.0M Total raised
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Date June 11, 2019 Announcement date
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Investors SpotOn, Franklin Templeton Investments Lead investors
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Company spoton.com Funded company

▥ Classifications

industries
Fintech & Banking
applications
Accounting and Taxes

◇ AskAI Classifications

Labels
Restaurant Software Point of Sale (POS) Software SaaS

▦ Linked Companies

SpotOn Transact, LLC
$100M to $250M