Revel Systems announced today that it raised $10.1 million worth of expansion capital. The investment was handed by two private investment entities based in the Asia Pacific region.
The two investors were Hungry Jack's former chief executive officer Tim Tighe and Sean Tomlinson. Tighe is currently McDonald Souteast Asia's senior vice president while Tomlinson is a company director and an experienced entrepreneur. Both of them will join Revel Systems' board of directors as part of the investment.
Revel Systems said that the funding will help in the company's current drive to expand internationally and further improve its domestic market. The company specifically intends on using the funds for its iPad POS software.
"Through my experience in the trenches of running and operating restaurants, I've seen that iPad-based point-of-sale software is a game-changing technology that retailers and customers both love. I expect the demand for the product to continue to grow massively over the next few years as retailers and restaurateurs move away from traditional fixed systems to cloud-based networks, and Revel is the most advanced system on the market," said Tomlinson.
Revel said that it will immediately increase its workforce.
"Revel Systems has been the leading technology in the point-of-sale space in the U.S. for the past couple of years, so a natural move is for the company to expand into international areas, and I'm happy to bring my expertise to the table," said Tim Tighe.
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