Immediately after several months of speculation about a potential acquisition by IBM or private equity firms, currently, finally some official information from point-of-sale payments company Revel Techniques. The company announced that Welsh, Carson, Anderson and Stowe (WCAS) has led a huge progress round in the company that will make it the company’s the vast majority shareholder. Alongside that, the company’s co-founder Lisa Falzone has stepped down as CEO. She is receiving replaced by Scott Betts, a former CEO of International Dollars Accessibility who has also labored at Very first Knowledge and Procter & Gamble. His appointment requires impact currently. “I am quite thrilled to join the Revel staff and continue Lisa’s and Chris’ fantastic do the job in setting up and delivering an superb remedy and top-quality business enterprise benefit to our consumers,” said Betts in a statement. We are inquiring Revel for more specifics about the dimension of this round — which was hinted at in this FTC submitting in January, but with no any financial specifics. (Revel would not comment on the submitting at the time.) WCAS led Revel’s $one hundred million Collection C in 2014 (when it was centered even now on an IPO). Just before this round announced currently, Revel had lifted $130 million in full. In 2015, at its last fundraise, the company was valued at about $540 million. It sounds like Falzone’s departure as CEO is instantly linked to the expenditure and is a signal of how the PE business — which focuses on tech and health care investments — is hoping to business up the business enterprise possibly for a even bigger tech exit, with most likely more specifics with huge brand names along the way. “During the earlier two decades, Revel has pushed considerable products innovation, acquired industry traction in key industry verticals, recruited great talent to the Revel staff, and demonstrated powerful client traction and progress,” said Eric J. Lee, Basic Lover at WCAS, in a statement. “Revel’s founders have proven fantastic eyesight and willpower in setting up the Company. Searching forward, we imagine that there is considerable industry potential for Revel’s top cloud-based mostly POS remedy, and WCAS is thrilled to fund and catalyze this up coming period of Revel’s progress and good results.” We’re inquiring what position, if any, Falzone will get but it appears to be like she is exiting altogether. “Revel’s mission has generally been to make business enterprise owners’ and operators’ life simpler and more effective – spurring entrepreneurship and top the industry with excellent options and features. Keeping clients and their good results at the forefront will generally be main to the business,” she explained in a statement. “Revel is on a fantastic trajectory. Lisa and I glimpse forward to watching the company improve and evolve,” added Chris Ciabarra, Revel’s other co-founder. Revel competes in opposition to organizations like Square but also PayPal, Very first Knowledge and several more in supplying a point-of-sale remedy that tiny and greater business enterprise house owners can run from an iPad app — bypassing a good deal of legacy and high priced specialised devices and essential bargains with a for a longer time chain of banking companions. It targets places to eat, retailer and enterprises and also gives payroll, inventory and CRM products and services. Customers contain Shell, Cinnabon, Estee Lauder, Tully’s, Smoothie King and Stanford University.
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Immediately after several months of speculation about a potential acquisition by IBM or private equity firms, currently, finally some official information from point-of-sale payments company Revel Techniques. The company announced that Welsh, Carson, Anderson and Stowe (WCAS) has led a huge progress round in the company that will make it the company’s the vast majority shareholder. Alongside that, the company’s co-founder Lisa Falzone has stepped down as CEO. She is receiving replaced by Scott Betts, a former CEO of International Dollars Accessibility who has also labored at Very first Knowledge and Procter & Gamble. His appointment requires impact currently. “I am quite thrilled to join the Revel staff and continue Lisa’s and Chris’ fantastic do the job in setting up and delivering an superb remedy and top-quality business enterprise benefit to our consumers,” said Betts in a statement. We are inquiring Revel for more specifics about the dimension of this round — which was hinted at in this FTC submitting in January, but with no any financial specifics. (Revel would not comment on the submitting at the time.) WCAS led Revel’s $one hundred million Collection C in 2014 (when it was centered even now on an IPO). Just before this round announced currently, Revel had lifted $130 million in full. In 2015, at its last fundraise, the company was valued at about $540 million. It sounds like Falzone’s departure as CEO is instantly linked to the expenditure and is a signal of how the PE business — which focuses on tech and health care investments — is hoping to business up the business enterprise possibly for a even bigger tech exit, with most likely more specifics with huge brand names along the way. “During the earlier two decades, Revel has pushed considerable products innovation, acquired industry traction in key industry verticals, recruited great talent to the Revel staff, and demonstrated powerful client traction and progress,” said Eric J. Lee, Basic Lover at WCAS, in a statement. “Revel’s founders have proven fantastic eyesight and willpower in setting up the Company. Searching forward, we imagine that there is considerable industry potential for Revel’s top cloud-based mostly POS remedy, and WCAS is thrilled to fund and catalyze this up coming period of Revel’s progress and good results.” We’re inquiring what position, if any, Falzone will get but it appears to be like she is exiting altogether. “Revel’s mission has generally been to make business enterprise owners’ and operators’ life simpler and more effective – spurring entrepreneurship and top the industry with excellent options and features. Keeping clients and their good results at the forefront will generally be main to the business,” she explained in a statement. “Revel is on a fantastic trajectory. Lisa and I glimpse forward to watching the company improve and evolve,” added Chris Ciabarra, Revel’s other co-founder. Revel competes in opposition to organizations like Square but also PayPal, Very first Knowledge and several more in supplying a point-of-sale remedy that tiny and greater business enterprise house owners can run from an iPad app — bypassing a good deal of legacy and high priced specialised devices and essential bargains with a for a longer time chain of banking companions. It targets places to eat, retailer and enterprises and also gives payroll, inventory and CRM products and services. Customers contain Shell, Cinnabon, Estee Lauder, Tully’s, Smoothie King and Stanford University.
Immediately after several months of speculation about a potential acquisition by IBM or private equity firms, currently, finally some official information from point-of-sale payments company Revel Techniques. The company announced that Welsh, Carson, Anderson and Stowe (WCAS) has led a huge progress round in the company that will make it the company’s the vast majority shareholder. Alongside that, the company’s co-founder Lisa Falzone has stepped down as CEO. She is receiving replaced by Scott Betts, a former CEO of International Dollars Accessibility who has also labored at Very first Knowledge and Procter & Gamble. His appointment requires impact currently.
“I am quite thrilled to join the Revel staff and continue Lisa’s and Chris’ fantastic do the job in setting up and delivering an superb remedy and top-quality business enterprise benefit to our consumers,” said Betts in a statement.
We are inquiring Revel for more specifics about the dimension of this round — which was hinted at in this FTC submitting in January, but with no any financial specifics. (Revel would not comment on the submitting at the time.) WCAS led Revel’s $one hundred million Collection C in 2014 (when it was centered even now on an IPO). Just before this round announced currently, Revel had lifted $130 million in full. In 2015, at its last fundraise, the company was valued at about $540 million.
It sounds like Falzone’s departure as CEO is instantly linked to the expenditure and is a signal of how the PE business — which focuses on tech and health care investments — is hoping to business up the business enterprise possibly for a even bigger tech exit, with most likely more specifics with huge brand names along the way.
“During the earlier two decades, Revel has pushed considerable products innovation, acquired industry traction in key industry verticals, recruited great talent to the Revel staff, and demonstrated powerful client traction and progress,” said Eric J. Lee, Basic Lover at WCAS, in a statement. “Revel’s founders have proven fantastic eyesight and willpower in setting up the Company. Searching forward, we imagine that there is considerable industry potential for Revel’s top cloud-based mostly POS remedy, and WCAS is thrilled to fund and catalyze this up coming period of Revel’s progress and good results.”
We’re inquiring what position, if any, Falzone will get but it appears to be like she is exiting altogether.
“Revel’s mission has generally been to make business enterprise owners’ and operators’ life simpler and more effective – spurring entrepreneurship and top the industry with excellent options and features. Keeping clients and their good results at the forefront will generally be main to the business,” she explained in a statement.
“Revel is on a fantastic trajectory. Lisa and I glimpse forward to watching the company improve and evolve,” added Chris Ciabarra, Revel’s other co-founder.
Revel competes in opposition to organizations like Square but also PayPal, Very first Knowledge and several more in supplying a point-of-sale remedy that tiny and greater business enterprise house owners can run from an iPad app — bypassing a good deal of legacy and high priced specialised devices and essential bargains with a for a longer time chain of banking companions. It targets places to eat, retailer and enterprises and also gives payroll, inventory and CRM products and services. Customers contain Shell, Cinnabon, Estee Lauder, Tully’s, Smoothie King and Stanford University.