SpotOn Transact, Inc (SpotOn), an innovative payments and software company, today announced $50 million in Series B funding. The round includes 01 Advisors, an investment and advisory firm founded by Twitter's former CEO Dick Costolo, former COO Adam Bain and former Corporate Development and Investor Relations executive David Rivinus, as well as returning investors Dragoneer Investment Group, Franklin Templeton and EPIQ Capital Group. This new funding follows a year in which SpotOn increased its revenue by over 150%. The company has continued that momentum in 2020 by adding over 5,000 clients already.

Focused on empowering small- and medium-sized businesses (SMBs) by providing enterprise-level solutions at affordable prices, the SpotOn ecosystem goes way beyond traditional payment processing and point-of-sale (POS) software. SpotOn integrates payments capabilities with POS and software tools to create customized, end-to-end solutions to fit any type of business. These include marketing, website development, appointment scheduling, digital loyalty, review management, and both retail and restaurant POS solutions.