CPE News (1.20.2023) – Vendasta Technologies Inc. celebrated its 15th year in operation since it was founded in 2008.
From its inception around the living room of founder Brendan King, Vendasta has grown to more than 700 employees with offices in Canada, the United States, and India.
Vendasta said it remains as a private company and expects to add to the $160 million in private capital it has raised to date.
In March 2021, Vendasta filed for initial public offering (IPO), anticipating to raise $100 million. Vanedge Capital and BDC Capital were disclosed to own a combined 60% of pre-IPO Vendasta. The proposed IPO would have valued Vendasta at approximately $700 million. Vensdasta later shelled its IPO plan though never filed to formally withdraw its prospectus.
In May 2021, Vendasta raised $119.5 million in Series D funding led by Lugard Road Capital with participation of Nicola Wealth, the Canadian Business Growth Fund (CBGF), and existing investors including Vanedge and BDC.
Saskatoon, Saskatchewan based Vendasta provides an end-to-end, commerce platform for channel partners who market, sell, bill, fulfill, and deliver digital solutions to SMBs
“The first 15 years set the stage for Vendasta and positioned us where we are today,” said King. “Now we will demonstrate just how powerful this business model is that we have created.”
photo credit: Vendasta
News Release
Vendasta Celebrates 15-year Anniversary
Company growth demonstrates the power of its business model
Saskatoon, Canada, Jan. 20, 2023 (GLOBE NEWSWIRE) — Vendasta today celebrated its 15th year in operation since it was founded in 2008. From its inception around the living room of founder Brendan King, the company has grown to more than 700 employees with offices in Canada, the United States, and India.
Since its founding, Vendasta has grown to become one of the preeminent Software as a Service companies serving small and medium sized businesses and the trusted partners who help them grow.
“From the start, we have had a vision to make it easier for businesses of all sizes to access digital marketing tools and services easily and cost-effectively,” said Brendan King, CEO and one of the original seven founders of the company. “From 2012, when we started focusing on software, we chose to work with the advertising agencies, media companies, and other trusted advisors who serve those small businesses. That has fueled our incredible growth, and helped us grow into a world-wide company from our base in Canada.”
Vendasta now counts more than 60,000 trusted partners who collectively serve more than six million small and medium businesses around the world, primarily centered in the United States and Canada.
Since its early days, Vendasta has been a leader in providing “white label” software that its partners can resell under their own name and platform. “We saw the agencies struggling to find cost-effective ways to bundle digital marketing and scale their business,” said Jeff Tomlin, Vendasta’s Chief Marketing Officer and another co-founder of the company. “Early on, we realized that we needed to give our partners unique tools for serving SMBs in order to deliver amazing customer experiences.. We’ve managed to do both very effectively.”
As King surveys the next 15 years, he predicts that Vendasta’s velocity of change will pick up even more as the company moves to integrate the latest in artificial intelligence into its products, saving SMEs time and money. “The changes and innovations we have coming down the pipe are incredible,” says King. “As revolutionary as Vendasta’s products are for our customers, we think the next wave of innovation we have in store will blow people’s minds.”
Vendasta has remained a private company throughout its 15-year history, but the company has been through several successful rounds of fundraising, and expects to add to the $160M in private capital it has raised to date.
“The first 15 years set the stage for Vendasta and positioned us where we are today,” said King. “Now we will demonstrate just how powerful this business model is that we have created.”
About Vendasta
Vendasta’s core purpose is to drive local economies by democratizing technology for small- and medium-sized businesses (SMBs). We accomplish this by providing a robust platform to local experts around the world—our channel partners. Partners use Vendasta’s technology to market, sell, bill, fulfill, and deliver digital solutions to their SMB clients. Our platform and marketplace are tightly integrated into an operating system delivered to SMBs, providing a single sign-on to digital products and analytics. Vendasta serves 60,000+ channel partners, who in turn work with more than six million SMBs worldwide. Sign up for free and explore Vendasta at www.vendasta.com.
Contact Data
Bill Johnson
Vendasta
306-955-5512
media@vendasta.com