SpotOn

SpotOn is a software and payments company that sells a cloud-based restaurant management system combining point-of-sale hardware and software, commission-free online ordering, reservations, marketing, labor management and payment processing. Its product set includes SpotOn POS with real-time reporting, SpotOn Order (online ordering with menu management, order pacing, delivery integrations and the white-labelled GoTo Place ordering app), SpotOn Teamwork (scheduling, tip management and tip access, payroll integration), SpotOn Profit Assist (AI analysis of profit-and-loss data), and SpotOn Terminal, a standalone small-business payment terminal with offline mode, optional cellular connectivity, tipping prompts and surcharge/dual-pricing options. Proprietary hardware spans countertop terminals, handhelds for tableside ordering, kitchen display systems and customer-facing displays. The company markets itself as serving casual and fine dining, bars and pubs, breweries, quick service, fast casual, and cafes and bakeries.

Historically the company positioned itself more broadly, describing an end-to-end cloud platform for "businesses of all types and sizes," from family restaurants to Major League Baseball stadiums, spanning restaurants, retail and enterprise venues. A third-party profile describes additional lines including loyalty programs, merchant lending through SpotOn Capital and equipment financing, and lists customers across retail, professional services, and health and beauty as well as hospitality.

SpotOn is privately held and states it is backed by Dragoneer Investment Group, Andreessen Horowitz, 01 Advisors, DST Global and Franklin Templeton. Secondary sources place total funding between roughly $895 million and $905 million across eight rounds, with the most recent disclosed round a $300 million Series F in May 2022 at a $3.6 billion valuation.

Founding story

Sources report SpotOn was founded in 2017. A third-party profile states it was co-founded by twin brothers Zach and Matt Hyman with Sheridan Trent, building on the Hyman brothers' prior payments company Central Payment, with the aim of giving small merchants an integrated analytics, marketing and loyalty platform rather than a standalone terminal — a "business-in-a-box" of hardware, subscription software and service. Another third-party profile instead lists the co-founders as Matt Hyman, Zach Hyman and Doron Friedman; TechCrunch identifies Zach Hyman (Co-Founder, Co-CEO), Matt Hyman (Co-Founder, Co-CEO) and Doron Friedman (Co-Founder, CPO). The sources therefore conflict on the third co-founder.

Business model

SpotOn combines subscription software with payment processing. Point-of-sale software plans are advertised starting at $0 per month with processing rates attached, while most restaurants are steered toward a bundled monthly "Core Bundle" package that includes online ordering, automated marketing and AI profit analysis. The company also sells proprietary POS hardware. TechCrunch describes SpotOn as operating a SaaS business model; a secondary profile characterizes the original model as subscription SaaS plus competitive payment rates, layered with hardware sales and, later, merchant lending.

Recurring software subscriptions (monthly POS and bundle plans), payment processing revenue, hardware sales, and — per a secondary profile — merchant lending and equipment financing through SpotOn Capital.

Traction

SpotOn reported 100% year-over-year ARR growth in 2021 and said its restaurant segment tripled in the year before its May 2022 Series F, at which point it had about 2,000 employees. Secondary profiles report $357.1 million in 2024 revenue, 40,000+ businesses served, and employee counts ranging from 2,637 to 10,000+. The company has raised roughly $895–905 million in total, and following the Appetize acquisition claimed deployments in over 65% of U.S. major-league stadiums.

Latest developments

Company press-release listings dated to its fiscal 2026 quarters describe Q1 and Q2 2026 momentum updates citing new customers, product enhancements and partnerships, proactive AI and faster access to cash, the introduction of Profit AI for independent restaurants, the launch of Rapid Fund to expand financial services for restaurants, and the opening of a Hawaiʻi technology showroom. The most recent disclosed financing remains the May 2022 Series F.