raildevice11TableSafe is looking to transform how you pay restaurant bills.

The Seattle company — maker of the RAIL bill paying device — just raised $2 million in fresh funding, part of a larger equity and debt financing package that could reach $10.5 million, according to a SEC filing. Total funding stands at $9.45 million to date.

The company confirmed the $2 million, but declined to comment further citing rules around public solicitation of funds.

Led by former Tamarac and Union-Street CEO Joe Snell, TableSafe is a hand-held device used in restaurants to streamline the bill paying process, making it a faster and more secure experience.

The device allows customers to self-swipe credit card information at the table, and do things such as easily calculate how bills should be split and email receipts directly to themselves. In addition to those features, the RAIL device allows restaurants to connect with restaurant patrons in new ways, offering discounts for repeat guests, digitally collecting comment card information or offering speciality products such as T-Shirts or bottled sauces.

The biggest cost saving, however, is likely around time, since waiters typically need to run between tables and point-of-sale systems. With the RAIL, the transaction is completed right at the table by the customer. Since the waiter never touches the credit card, TableSafe says that fraud is dramatically reduced within restaurants.

TableSafe changed its name from ViableWare earlier this year. The company — whose systems are used at the Palace Cafe in New Orleans and Dickie Brennan’s Restaurants —  scored $6.5 million in funding last year.

Here’s a closer look at how the RAIL device works, and I gave the device a whirl at Boom Noodle in Seattle a couple years ago.

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