About SpotOn
SpotOn was founded in 2017 by Zachary Hyman and Matt Hyman, based on the observation that many small businesses, particularly restaurants, faced a choice between older, less technologically sophisticated point-of-sale and payment processing systems that had not kept pace with more modern software capabilities, or newer point-of-sale providers that often bundled payment processing with proprietary hardware and software in ways that could limit a business's flexibility and negotiating leverage regarding payment processing rates and terms, creating an opportunity for a more modern, flexible point-of-sale and business software platform specifically tailored to the operational needs of restaurants and other small businesses.
SpotOn's platform provides point-of-sale software and hardware, payment processing, and a broader suite of business management tools including online ordering, reservation and waitlist management, marketing and customer loyalty tools, and payroll and workforce management features, aiming to give restaurants and other small businesses a more comprehensive, integrated set of operational software tools than piecing together many separate point solutions from different vendors would typically provide, while maintaining competitive payment processing pricing relative to some other bundled point-of-sale and payments providers in the restaurant technology category. The company has particularly focused on the restaurant industry as a core customer vertical, building restaurant-specific features addressing common operational needs such as table and order management, online ordering integration with third-party delivery platforms, and various tools aimed at helping restaurants manage the thin profit margins and operationally complex, labor-intensive nature of the restaurant business more effectively through better technology and data visibility. SpotOn has expanded beyond restaurants into serving other small business categories including retail and various service businesses, while maintaining particular strength and focus within the restaurant technology vertical. The company has raised substantial venture funding from investors including DST Global, Dragoneer Investment Group, and Andreessen Horowitz, reaching a valuation exceeding $3.15 billion, competing with other restaurant and small business point-of-sale providers including Toast and Square.
