Revel Systems, a leading cloud-based point of sale (POS) and complete business management platform, today announced a significant investment led by majority owner Welsh, Carson, Anderson & Stowe (WCAS), as well as other parties.
“Despite the unprecedented adversity facing restaurants and retailers caused by the global pandemic, Revel performed exceptionally well in 2020. Revel added many national brands as clients, introduced several new solutions that helped merchants thrive in an increasingly digital and contactless environment, while also ending the year cash flow positive,” said Eric J. Lee, WCAS General Partner. “As the industry increasingly looks to adopt modern, cloud-based business solutions like the Revel platform, this additional investment ensures Revel has all the resources necessary to take advantage of a market going through a rapid technology transformation.”
“We are thrilled by the confidence shown in us by WCAS and other investors. Revel is committed to helping our clients in a time of need by working hand in hand to navigate the pandemic. We will be thoughtful and innovative in doing so,” said Gregory Dukat, CEO of Revel Systems. “This investment is confirmation of all the success and hard work our team has accomplished in the last few years.”
Revel will use a combination of investment funding and recent debt financing to accelerate innovation within its industry-leading product portfolio, bolster its world-class support function and expand its sales and marketing reach. These areas of focus will all support the company’s provision of the best product, the best service, and a continued focus on being the best partner in the chain restaurant and retail technology space.
About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: technology and healthcare. Since its founding in 1979, the Firm’s strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions. WCAS has deep experience in acquiring Founder-led businesses and corporate carve-outs. The Firm has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit http://www.wcas.com.
About Revel Systems
Revel’s point of sale and business solutions provide a native cloud technology platform that is at the heart of our clients’ businesses. The Revel platform helps restaurants and retailers deliver a better customer experience, diversify revenue streams, and scale their businesses with ease. The Revel Essentials™ solution, which has been deployed at thousands of customer locations, is designed for the needs of small chains. The Revel Enterprise® solution is tailored for large chains and leads the industry with a broad footprint of national, big brand customer implementations. Revel is committed to client success and strives to be a people-first business, leading with integrity and transparency. For more information, please visit http://revelsystems.com or call (415) 744-1433.
Media Contact
Sara Long, Sparkpr, +1 (415) 962-8200, sara.long@sparkpr.com
