Vend (software)
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Type | Private |
---|---|
Industry | Point of sale |
Founded | 2010 |
Founder | Vaughan Rowsell |
Headquarters | , New Zealand |
Area served | United States, United Kingdom, Australia, Canada, New Zealand |
Key people | Ana Wight (CEO) |
Services |
|
Number of employees | 459 (2019) |
Website | vendhq |
![](http://upload.wikimedia.org/wikipedia/commons/thumb/d/dd/Vend_Company_Logo.png/235px-Vend_Company_Logo.png)
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.
History[]
Vend was launched in August 2010 [1] by software developer Vaughan Rowsell.[2]
In 2013, Vend raised NZ$8 million 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 US$20 million (NZ$25 million) in Series B funding. The funding round was co-lead 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 NZ$12 million, mainly from existing investors along with new entrant Punakaiki Fund. The company also announced cuts to staff.[5]
In 2015, Vend launched Vend Ecommerce.[6] It also announced a partnership with UK payments provider iZettle,[7] 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.[8]
In 2016 Vend also launched an app for inventory management named Counter.[9]
At the end of 2016, Vend raised a further US$9 million ($NZ13 million) 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.[10]
In 2017, Vend renamed its inventory app Counter to Scanner by Vend.[11]
On 12 March 2021, Vend was sold to Lightspeed POS Inc. for US$350 million (NZ$455 million).[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]
Along with its software, Vend provides content and advice for retailers via a blog. The blog has been listed as a resource by various industry sites.[15][16][17]
Technology[]
Vend uses HTML5 features in Google Chrome and Safari to implement offline processing capabilities.[2]
- A webSQL database built into the browser provides local inventory storage so sales can be processed offline and all stock levels updated.
- HTML5’s offline manifest tells the browser to take copies of certain files and pages for offline use.
- WebSocket (another element of HTML5) allows Vend to talk to other devices on a local network, interfacing with hardware such as an EFTPOS unit or other payment devices.
Aside from being compatible with mobile browsers, Vend also has an iOS app called Vend Register.[18]
Awards and recognition[]
- 2011 NZ Innovators Awards – ICT category and Supreme Award[19]
- 2014 NZ Hi-Tech Awards – IBM Hi-Tech Exporter of the Year (under $5 million revenue) and Cisco Hi-Tech Emerging Company of the Year categories[20]
- 2014 Gold Stevie Award for Vend's homepage video (American Business Awards)[21]
- 2014 Monocle Magazines's Top 25 in Retail[22]
- 2015 Gold Stevie Award for Customer Service (American Business Awards)[23]
- 2015 Silver Stevie Award for Vend's video with TopShelf Style (American Business Awards)[24][25]
- 2015 Deloitte NZ Fast50 – 7th fastest growing company in NZ[26]
- 2015 Industry Specific App of the Year – Xero UK[27]
- 2016 Deloitte NZ Fast50 – 38th fastest growing company in NZ[28]
- 2016 TIN100 Hot Emerging Companies New Zealand (2nd)[29]
- 2017 Vend named as the best all-in-one POS system for small businesses by Business News Daily[30]
- 2019 Newsweek Best Business Tools – POS [31]
References[]
- ^ "Innovators Awards: Supreme/IT winner, Vend". idealog.co.nz. 21 October 2011. Retrieved 7 January 2018.
- ^ a b "Cloud-based cash registers slash POS costs – Storage". boxfreeit.com. Retrieved 7 January 2018.
- ^ "Vend gets $8m in new money". The New Zealand Herald. 15 May 2013. Retrieved 16 March 2017.
- ^ "Vend Closes $20M in Series B". www.vcnewsdaily.com. Retrieved 16 March 2017.
- ^ "Vend Raises $12 million, confirms cuts to local staff". nbr.co.nz. 19 August 2015. Retrieved 17 September 2018.
- ^ Kepes, Ben. "Vend Adds E-commerce To Its Point Of Sale Offering". Forbes. Retrieved 16 March 2017.
- ^ "Vend & iZettle Get Together in Perfect Match | Payment Week". Payment Week. 29 January 2015. Retrieved 16 March 2017.
- ^ Etherington, Darrell. "Square brings payment and capital offerings to TouchBistro and Vend customers". TechCrunch. Retrieved 16 March 2017.
- ^ "Vend introduces barcode scanner app". Retail World Magazine. Retrieved 16 March 2017.
- ^ "Vend completes $13m capital raise". The National Business Review. 22 December 2016. Retrieved 16 March 2017.
- ^ "Scanner | Inventory Barcode Scanner for Retail on the App Store". App Store. Retrieved 18 September 2017.
- ^ "NZ retail software company Vend sold for $455m". NZ Herald. Retrieved 12 March 2021.
- ^ "Vend Review 2017 | Reviews, Ratings, Complaints, Comparisons". Merchant Maverick. Retrieved 16 March 2017.
- ^ "Click & Collect in Vend Ecommerce". How can we help?. Retrieved 16 March 2017.
- ^ "The Top 9 Retail Blogs You Need to Be Following – Capterra Blog". blog.capterra.com. Retrieved 16 March 2017.
- ^ "Best Small Business Blogs of 2016". 16 May 2016. Retrieved 16 March 2017.
- ^ "Top 20 Blogs for SMB Independent Retailers – Star Cloud Services". Star Cloud Services. 7 August 2016. Retrieved 16 March 2017.
- ^ "Vend Register App". www.vendhq.com. Retrieved 19 November 2015.
- ^ Administrator. "NZIA – Winners 2011". www.innovators.org.nz. Retrieved 16 March 2017.
- ^ "2014 NZ Hi-Tech Award Winners Announced — NZ Hi-Tech Awards". www.hitech.org.nz. Retrieved 16 March 2017.
- ^ "Video Awards | Stevie Awards". stevieawards.com. Retrieved 16 March 2017.
- ^ "Vend named as one of Monocle Magazine's Top 25 in Retail Award winners – Vend Retail Blog". Vend Retail Blog. 24 March 2014. Retrieved 16 March 2017.
- ^ "Customer Service Awards | Stevie Awards". stevieawards.com. Retrieved 16 March 2017.
- ^ "Video Awards Winners | Stevie Awards". stevieawards.com. Retrieved 16 March 2017.
- ^ "Video Awards Winners – Stevie Awards". stevieawards.com. Retrieved 7 January 2018.
- ^ Digital, Born. "Results". www.deloitteprivate.co.nz. Retrieved 16 March 2017.
- ^ "Celebrating our partners: Xero Awards London 2015 |Xero Blog". Xero Blog. 11 February 2015. Retrieved 16 March 2017.
- ^ Deloitte. "Deloitte Fast 50 2016 | results". www.deloitteprivate.co.nz. Retrieved 16 March 2017.
- ^ http://www.tin100.com/About+TIN100+Reports/Hot+Emerging.html
- ^ "Vend Review: Best All-In-One POS System for Small Business". Business News Daily. Retrieved 16 March 2017.
- ^ https://www.newsweek.com/best-business-tools-2019/payment-ecommerce-software
- Software companies of New Zealand
- Point of sale companies
- Software companies established in 2010
- New Zealand companies established in 2010