{"id":659277,"date":"2013-05-21T11:21:22","date_gmt":"2013-05-21T15:21:22","guid":{"rendered":"http:\/\/www.pehub.com\/?p=203351"},"modified":"2013-05-21T11:21:22","modified_gmt":"2013-05-21T15:21:22","slug":"swipely-closes-12-mln-in-series-b-financing","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/659277","title":{"rendered":"Swipely Closes $12 Mln in Series B Financing"},"content":{"rendered":"

Swipely<\/strong>, a Providence, RI-based merchant account provider, said today that it has raised $12 million in Series B financing led by Shasta Ventures<\/strong>. Existing investors First Round Capital, Greylock Partners<\/strong> and Index Ventures<\/strong> also joined the round. The funding is to help Swipely expand both its merchants’ network and nationwide growth.<\/p>\n

PRESS RELEASE<\/p>\n

PROVIDENCE, R.I.–(BUSINESS WIRE)–Swipely, the simple way for local merchants to accept payments, understand customers and grow revenue, today announced it has completed a $12 million Series B round of financing. Shasta Ventures led the investment and was joined by existing investors First Round Capital, Greylock Partners and Index Ventures. The Series B funding will help Swipely expand its network of merchants and accelerate its nationwide growth.
\nSince entering the payments space in June 2012, Swipely has enjoyed widespread adoption, now managing more than $700 million in annual sales for merchants in 130 cities and towns throughout the U.S., and unlocking insights into nearly 2 million customers.
\nThis round brings Swipely\u2019s total venture financing to $20.5 million, and comes on the heels of the company being named to Forbes\u2019 100 list of \u201cAmerica\u2019s Most Promising Companies\u201d and one of the \u201cBest Places to Work in Rhode Island\u201d by Providence Business News. The financing is the largest Series B venture investment in a software company in Rhode Island history.
\nAn Online Operating System for Local Commerce
\n95% of commerce happens offline. Since launching Swipely\u2019s payments platform in June 2012, the company has grown rapidly to bring local merchants the same tools that e-commerce companies use to better understand customers through shopping data to grow sales.
\n\u201cWe are excited to be part of a company that finally brings the power of data to the offline world, ultimately translating into happy customers and more revenue,\u201d said Sean Flynn, Partner at Shasta Ventures. “It’s a major innovation in payments and marketing for small business, and we hope it will transform the way merchants understand and engage with their customers.\u201d
\n\u201cSwipely replaces legacy merchant payment and marketing approaches with a powerful online operating system for local commerce to make smarter, faster business decisions,\u201d said Angus Davis, founder and CEO of Swipely. \u201cWe empower hundreds — and soon thousands — of leading small businesses with actionable insights to help them succeed and grow.\u201d
\nSwipely merchants reach from the West Village in New York City to SOMA in San Francisco, and everywhere in between. Since upgrading to Swipely, these businesses have unlocked shopping data to:
\nLearn how new versus repeat customers contribute to sales
\nBuild a customer database with profiles for every card-paying customer
\nMeasure how online marketing campaigns impact offline sales
\nLaunch trackable loyalty programs that bring customers back
\nSwipely is a good fit for merchants that accept at least $30,000 in monthly credit card sales. To see how your business can better understand customers and grow sales, visit swipely.com or call 888-SWIPELY.
\nBringing A Silicon Valley Spark to the Ocean State
\nSwipely will use its funds to grow the team across all functional areas, including engineering, sales and marketing, finance and administration. Swipely is headquartered in Providence, Rhode Island, where it is a bellwether among a growing ecosystem of high-tech companies leading a renaissance in the Ocean State\u2019s long challenged economy.
\nSwipely offers outstanding career opportunities with competitive compensation and benefits, an award-winning office culture and the opportunity to work and win as part of a world-class team. It\u2019s an exciting time to join Swipely. To learn more about current openings, visit http:\/\/swipely.theresumator.com\/
\nAbout Swipely
\nSwipely is a simple way for local merchants to accept payments, understand customers and grow revenue. Swipely\u2019s valuable payments, analytics and marketing tools work with systems merchants already have and with cards consumers already use. Merchants use Swipely to manage 700 million dollars in sales and to deepen relationships with over 2 million customers.
\nFounded by Angus Davis and named to the Forbes Magazine 100 list of \u201cAmerica\u2019s Most Promising Companies,\u201d the Providence, RI based company includes veterans of Tellme, Microsoft, LivingSocial and SeamlessWeb, and is backed by leading Silicon Valley investors including Shasta Ventures, Index Ventures, Greylock Partners, and First Round Capital, among others.<\/p>\n

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Swipely, a Providence, RI-based merchant account provider, said today that it has raised $12 million in Series B financing led by Shasta Ventures. Existing investors First Round Capital, Greylock Partners and Index Ventures also joined the round. The funding is to help Swipely expand both its merchants’ network and nationwide growth. PRESS RELEASE PROVIDENCE, R.I.–(BUSINESS […]<\/p>\n","protected":false},"author":8321,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-659277","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/659277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/8321"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=659277"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/659277\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=659277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=659277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=659277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}