Tapingo landed a $22 million investment led by Qualcomm Incorporated through its investment arm Qualcomm Ventures. DCM Ventures, Kinzon Capital, and existing investors Khosla Ventures and Carmel Ventures also participated in the round. The company will use the funding to accelerate its expansion beyond the college market, with the goal of transforming local commerce.
Tapingo’s mobile-ordering technology makes buying things quicker and more convenient. It uses machine learning to determine user preferences from everyday behavior, then match those preferences with what’s available nearby.
Since tapping into the college market in 2014, Tapingo has grown from two-dozen campuses to more than 85 across the USA. Tapingo currently processes more than 25,000 transactions per day, with the average user transacting more than four times per week”making it larger than any other on-demand ordering service.
With rapid scaling a priority, Tapingo will use the new round of funding to hire aggressively as well as invest in product development, operations, and marketing.
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