Mobile payment player Tabbedout has announced it has raised $7.75 million in an "oversubscribed Series B financing round." Financing came from existing investor NEA, Heartland Payment Systems and Morgan Creek Capital.
"To satisfy consumer demands and address hospitality needs, restaurants and bars are looking for easy, cost-effective ways to generate revenue growth for their business, and create a more secure and personalized relationship with their customers," said Rick Yang, principal at New Enterprise Associates.Tabbedout is available in thousands of locations nationwide and has integrations with over 70% of the US hospitality POS providers. When bars and restaurants “Prefer Tabbedout” for payment, their POS System automatically gathers customer purchase history and feedback, creating easy and comprehensive customer profiles and lists.
"Tabbeout has created a truly innovative solution for the hospitality industry, giving merchants key insights into customer behavior and feedback, which greatly improves the consumer experience."