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GoTab is raising up to $50 million in a Series B financing this summer, CEO Tim McLaughlin tells Axios exclusively.

Driving the news: The startup will see its valuation double in this round, which is notable in a difficult fundraising environment.

How it works: Arlington, Va.-based GoTab offers point-of-sale, kitchen display system, kiosk, mobile ordering, radio-frequency identification technology and payment solutions.

Catch up fast: Last August, the company closed its Series A at $18 million, in a round led by Truist Ventures. GoTab had previously told Axios it planned to raise a $15 million in the Series A.

The valuation at that time was said to approach nine figures, which would put the new valuation at close to $200 million.

What's next: While he sees plenty of growth still to be had in the U.S., GoTab will be making more of push into Canada, the U.K. and Australia, McLaughlin says.

He also sees an opportunity to provide its tech to food halls.

GoTab's likely exit path is an IPO in two to three years, as McLaughlin says a sale would complicate its many partnerships with other companies.

it planned to raise a $15 million Series A

Exclusive: Restaurant tech startup GoTab raising up to $50 million

The round will be at double the startup's previous valuation.

an illustration of a 100 dollar bill on a fork

Fundraising

GoTab is raising up to $50 million in a Series B financing this summer, CEO Tim McLaughlin tells Axios exclusively.Driving the news: The startup will see its valuation double in this round, which is notable <a class="gtmContentClick" data-vars-link-text="in a difficult fundraising environment" data-vars-click-url="https://thespoon.tech/2023-restaurant-tech-ecosystem-nourishing-the-bottom-line/" data-vars-content-id="e2ef4955-09d0-4534-a39b-cb399d3544f5" data-vars-headline="Exclusive: Restaurant tech startup GoTab raising up to $50 million" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://thespoon.tech/2023-restaurant-tech-ecosystem-nourishing-the-bottom-line/" target="_blank">in a difficult fundraising environment</a>.

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Exclusive: Restaurant tech startup GoTab raising up to $50 million

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