BOULDER – Splick-it Inc. – a company that helps you order food and pay for it at restaurants from your mobile device - has raised $4.7 million of a $6.6 million equity funding round, according to a Securities and Exchange Commission document.
The Boulder-based company plans to use the funds to grow its operations in the mobile ordering and payments realm, said Vijay Bangaru, chief executive officer. Splick-it plans to make two related business growth announcements in the next few weeks, Bangaru said.
"It's a good-sized round, and it's going to be able to take us to the next level. Mobile payments is super-hot, and we're in a good position to ride this wave," Bangaru said.
The new funding is divided into two parts - $3 million in new investment and $3 million in existing equity that was converted from previous debt, said company founder Rob Taylor. Some 24 investors were involved in the latest fund-raising round, according to the SEC document.
Splick-it was founded in 2008 with mobile applications for restaurants that allow customers to order, pay and receive rewards. Bangaru, a former MapQuest and Google executive, was hired in July.
The privately held company plans to add six new employees from its current 12 by the end of the year, Taylor said. The Splick-it app facilitated $10 million in retail sales for restaurants in a two-year period, company officials have said. Splick-it's office is at 1405 Arapahoe Ave. in Boulder..