Despite its focus on mobile payments, however, the startup is also trying to attract companies that are wary of handling financial transactions solely through wi-fi. To get more enterprises on board, Revel is launching wired ethernet connections, a move that it hopes will convince large retail businesses to replace their cash registers with iPads.
Revel claims they are the first iPad POS provider to offer failover connections between wi-fi and cabled Ethernet, so if one falters, the other will take over. Called Revel Ethernet Connect, the hardware is now on sale for $250 and will be included with Revel’s iPad POS system after June 15.
“Most enterprises want ethernet for security and most government agencies and enterprises don’t want to touch anything with wi-fi,” says Revel co-founder and chief technology officer Christopher Ciabarra . He adds that integrating cabled ethernet has already helped Revel land a a 40,000 terminal deal with a new client.
“Now we are able to deal with enterprise customers, as well as stadiums. They want ethernet because wi-fi often goes down in stadiums.”
Revel has raised a total of $115 million, with most of its funding coming from a $100 million series C round in November. One of a few startups namechecked by Apple during its most recent earnings call, Revel is currently pursuing growth in Europe and Asia and considering an initial public offering at the end of 2017.