Vend (software)

Last updated

Vend Limited
Company type Private
Industry Point of sale
Founded2010;14 years ago (2010)
FounderVaughan Rowsell
Headquarters,
New Zealand
Area served
United States, United Kingdom, Australia, Canada, New Zealand
Key people
Ana Wight (CEO)
Services
  • Point-of-sale
  • Ecommerce
  • Retail training
Owner Lightspeed Commerce, Inc.
Number of employees
459 (2019)
Website www.vendhq.com
Previous logo Vend Company Logo.png
Previous logo

Vend is cloud-based point-of-sale and retail management software company, based in Auckland, New Zealand. The company was founded in 2010 by Vaughan Rowsell. It was acquired by the Australian software company Kounta.

Contents

History of Vend

Vend was launched in August 2010 [1] by software developer Vaughan Rowsell. [2]

In 2013, Vend raised 8 million (8.000.000) NZD of funding from investors in Australia and New Zealand. [3] Further capital has also been raised from existing investors including Point Nine Capital in Berlin.

The following year, Vend closed 20 Million (20.000.000) USD (25 Million (25.000.000 ) in Series B funding. The funding round was co-led by Peter Thiel and Square Peg Capital in Australia. [4] Later in 2014, the company also opened offices in Toronto and London. In August 2015, Vend announced that it had raised 12 million (12.000.000) NZD, mainly from existing investors along with new entrant Punakaiki Fund.

In 2015, Vend launched Vend Ecommerce. [5] It also announced a partnership with UK payments provider iZettle, [6] and North American payments provider Mercury (now Vantiv).

In 2016, the company partnered with Square to enable retailers who use Vend's software to process payments with Square. [7]

In 2016 Vend also launched an app for inventory management named Counter. [8]

At the end of 2016, Vend raised a further 9 million (9.000.000) USD (13 million (13.000.000 NZD) led by existing investors, and with significant new investment from fund manager Movac. In 2016 Vend grew its UK staff to 20 and opened a new office in East London. [9]

In 2017, Vend renamed its inventory app Counter to Scanner by Vend. [10]

On 12 March 2021, Vend was sold to Lightspeed POS Inc. for 335 million (355.000.000) USD (455 million (455.000.000) NZD). [11] The company had approximately 150 staff at this time. [12]

Features

Vend's services include web-based POS software, inventory management, E-commerce, customer loyalty, and reporting analytics. Vend integrates with other business and payments applications including Shopify, Square, Xero and PayPal. [13]

Vend's software allows merchants to generate reports on sales, inventory, and customer behavior. Vend Ecommerce and integrations with partners like Shopify and WooCommerce enable retailers to sell online. [14]

Technology

Vend uses HTML5 features in Google Chrome and Safari to implement offline processing capabilities. [2]

Vend works with mobile browsers as well as their iOS app called Vend Register. [15]

Awards and recognition

Related Research Articles

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References

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