SpotOn bags $300m Series F at $3.6bn valuation

US-based software and payments company SpotOn has secured $300 million in a Series F financing round at a valuation of $3.6 billion.

SpotOn has raised $300m in Series F

Led by Dragoneer Investment Group, the round saw participation from existing investors including Andreessen Horowitz (a16z), DST Global, Franklin Templeton and Mubadala Investment Company, as well as new investor, G Squared.

The company says it will use the funding to continue to develop tech products that “enable businesses to meet the evolving needs of today’s consumer”.

Using its cloud-based technology, SpotOn offers an end-to-end software and payment platform to help streamline operations, improve customer experience and increase profit.

The company says “tens of thousands” of businesses have chosen to incorporate SpotOn’s technology in the last year, claiming its restaurant segment has tripled in that period.

“This investment allows us to continue aggressively investing in tech, service and distribution to help our clients thrive, because their success is our mission,” said Zach Hyman, Co-CEO of SpotOn.

The latest funding round follows SpotOn’s $300 million Series E round in September 2021, which it used to acquire commerce platform Appetize.

This Series F round brings SpotOn’s total funding to date to $928 million.