SpotOn said on Wednesday it had raised US$300 million in a late-stage funding round led by investment firm Dragoneer, which valued the software maker at US$3.6 billion.
SpotOn, co-founded in 2017 by twin brothers Matt and Zach Hyman, offers payments and other software to restaurants as well as other small and medium-sized businesses. Its move to raise capital comes amid a broader sell-off in tech stocks over the past few months, which is likely to pressure the valuations of private companies.
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