Tapingo, a San Francisco, CA-based mobile shopping platform, raised $22m round of funding.
The round was led by Qualcomm Incorporated, through Qualcomm Ventures, with participation from DCM Ventures, Kinzon Capital and existing investors Khosla Ventures and Carmel Ventures.
The company, which has now raised $36m in total, will use the funds to accelerate its expansion beyond the college market, hire new people and invest in product development, operations, and marketing.
Led by founder and CEO Daniel Almog, Tapingo provides Tapingo provides merchant partners with mobile-ordering technology to gain new customers, grow loyalty and usage among existing customers. It uses machine learning to determine user preferences from everyday behavior, then match those preferences with what’s available nearby.
Since launching in the college market in 2014, the company has grown from two-dozen campuses to more than 85 across the USA. Tapingo currently processes more than 25,000 transactions per day and, earlier this year, expanded into several new services, including delivery and general campus retail.
FinSMEs
02/04/2015