ShopKeep, a provider of POS and payment solutions for independent businesses, has secured $60 million in Series D funding led by Activant Capital. In conjunction with the venture capital firm’s financial contribution, Founder Steve Sarracino will join the ShopKeep Board of Directors.
With this funding round, ShopKeep aims to aggressively expand its overall U.S. customer base, strengthen industry partnerships and launch its international operations, starting with the UK this month. To date, ShopKeep has raised $97.2 million in total funding.
With the latest funding round, ShopKeep also plans to reaffirm its position as a comprehensive solution provider for independent businesses. Through its all-in-one system, ShopKeep provides a combination of customer marketing, inventory and staff management, back-end reporting and detailed analytics solutions.
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“We now play the role of an IT department to small business owners, democratizing invaluable business management tools previously only accessible to the big box retailers,” said Norm Merritt, President and CEO of ShopKeep. “Ultimately this means merchants are able to run their businesses more effectively. With this new funding we are looking forward to bringing these benefits to a far greater number of small business owners, and empowering them to run a smarter business.”
Over the course of 2015, ShopKeep has acquired payment processing startup Payment Revolution and launched ShopKeep Payments. As of June, ShopKeep has more than doubled in year-over-year revenue growth.
