In what CEO Angus Davis calls “the largest Series B
for a software company in RI history,” Providence,
Rhode Island based Swipely has just
raised $12M in a round led by Shasta Ventures and partner Sean Flynn.
Swipely is a simple way for local merchants to
accept payments, understand customers and grow revenue. It works with every
credit and debit card customers already have, and there are no new costs and no
new equipment for merchants. Founded in 2009 by Davis, the company includes
veterans of Tellme, Microsoft, Netscape, and Paypal.
Despite the existence of many active, ancient, and
honorable Angel Groups in New England, along with the Cherrystone Angel Group
and Betaspring accelerator right in Providence, Swipely seems to have found its
funding through left coast angels, angel funds, and venture capitalists.
Here are some of the investors, according to Crunchbase.
|
FUNDING TOTAL
|
$20.5M
|
|
Angels, 11/09, $875k
First Round Capital Angus Davis |
|
|
Angels, 12/09, $125k
| |
|
Series A, 5/10, $7.5M
Index Ventures Greylock Partners First Round Capital Lowercase Capital SV Angel Keith Rabois Anton Commissaris Lee Hower Charles Moldow Emil Michael Angus Davis |
|
|
Series B, 5/13, $12M
Shasta Ventures Reid Hoffman Danny Rimer Josh Kopelman |
Putting on our Angel beanies, the Editors wish to extend a welcome to any of these investors who are new to the Northeast and convey our hopes that after cash-out, whenever that might be, some of the proceeds will be reinvested in Rhode Island and thereabouts.
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