Vendasta lands $40 mln in funding, CBGF leads $25 mln
Vendasta, a Saskatoon-based white-label software company, has raised $40 million in its latest financing. Canadian Business Growth Fund (CBGF) led a $25 million round. It adds to a $15 million investment made in May, led by Comporium Inc and Saskworks Venture Fund and joined by Vanedge Capital and BDC Capital's IT Venture Fund. Founded in 2008, Vendasta provides a cloud commerce platform to channel partners that assist small and mid-sized businesses with their digital needs. Its products are are sold by more than 1,200 agencies and over 25,000 salespeople. Led by CEO Brendan King, Vendasta will use the funds raised for new hires, enhancing the platform, and expanding into new customer channels.
17 July 2019•4 mins read
