ShopKeep POS raises $25mn from Thayer Street Partners

25 Apr '14

3 min read

ShopKeep was founded in 2008 by former wine and grocery store owner, Jason Richelson, in the back room of his wine shop in Fort Greene, Brooklyn. The new funding, expansion and product updates will further ShopKeep’s mission: to help small businesses run more efficiently and be more profitable.

“I started ShopKeep because I was fed-up with the software available to me in my wine store, and I knew there had to be a better way,” said Richelson. “Partnering with Thayer Street is a significant step in our evolution as a company given their deep experience in tech-enabled financials and long-term investment approach. We’re aiming to be the first billion dollar software-as-a-service company to come out of New York.”

ShopKeep raised $12.2 million in two funding rounds in 2011 and 2012 from Tribeca Venture Partners, TTV Capital, Contour Venture Partners and Canaan Partners. In total, the company has raised $37.2 million.

“All credit goes to the amazing team we have built,” added Richelson. “Our culture is incredibly important to us as we grow, and I’m proud to say we have a brilliant team that work hard every day to wow our customers and help them succeed.”

In 2014, ShopKeep was named Customer Service Department of the Year at the Stevie Awards for Sales and Customer Service. Last year, ShopKeep was named to the Red Herring Top 100 list of the leading private companies in the U.S. and Canada.

ShopKeep

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