Salido, a US-based developer of payment processing technology for the hospitality industry, has received $12m in funding from investors including payment technology provider First Data, CNBC has reported.
Founded in 2012, Salido has developed hardware systems such as a point-of-sale (POS) device and a system that organises restaurant orders and enables kitchen staff to communicate with other sections.
The products also generate and analyse data on orders that can be studied by its users to track specific elements of its business. Salido technology will be integrated into First Data’s own POS system, Clover, later this year.
Shu Chowdhury, chief executive, told CNBC: “Data can help restaurants understand what they are selling, how they should be selling it, and how they should be treating their customer.”
High Line Venture Partners led a $2m round for Salido in 2015 that included Accelerator Ventures, 500 Startups, Great Oaks VC and angel investors Tom Colicchio, Stephen Starr, Ben Daitz and Scott Belsky.
The company subsequently raised another $2m in a September 2016 round led by angel investor Phil Suarez.
– Image courtesy of Salido.