Payment Company SpotOn Raises $300 Million in Series F Funding

SpotOn, a leading software and payment company, has announced $300 million in Series F funding, raising its valuation to $3.6 billion.

The company will use the funding to further develop technology products that enable businesses to meet the evolving needs of today's consumer. The round was led by Dragoneer Investment Group, LLC (Dragoneer Investment Group), a growth-oriented investment firm, with continued participation from existing investors including Andreessen Horowitz (a16z), DST Global, Franklin Templeton, and Mubadala Investment Company, as well as new investor, G Squared.

The funding comes eight months after SpotOn's Series E and increases its valuation to $3.6 billion. During that time, SpotOn has continued to rapidly deliver new innovations and grow market share.

"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."Dragoneer believed in our vision from the very beginning, and we are grateful for the ongoing confidence and support of such a respected firm."

"Mom-and-pop restaurants and retail businesses are facing rapidly changing consumer expectations within today's tech-driven landscape. SpotOn has made it their mission to provide customized solutions to drive the growth and adaptation needed as businesses of all sizes evolve and grow,"said Marc Stad, Founder and Managing Partner at Dragoneer."We couldn't be more excited to continue to support the team in their journey to deliver the best software and payment systems for their clients."