Tapingo, the maker of a popular mobile app that offers a way to pay in advance for orders at local merchants, has launched on 25 campuses, starting with Santa Clara University. The company has received a $10.5 million Series B funding round led by Khosla Ventures, with participation from prior investor, Carmel Ventures.
Originally founded in Israel and now based out of San Francisco, Tapingo CEO Daniel Almog explained how the company initially focused on university campuses since they provide closed ecosystems of merchants and consumers who are short on time. Tapingo handled over $1 million in transactions last year, Almog said.
What makes the app unique is it’s ability to ask users specific questions when they are near a particular vendor. The app may ask, “Would you like your normal iced latte?” when you approach your favorite participating coffee shop and the order will be ready for pickup upon arrival.
Almog said Tapingo has seen “crazy adoption” among students. “Half the student base is addicted to the app and using it four to five times a week,” he said.
Other schools include the University of the Pacific in Stockton, New York University, the University of Southern California, University of Arizona, Northern Arizona University, Case Western Reserve University and Louisiana State University.