Vend (software)

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 (NZ $13 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]

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]

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.[15]

• 2011 NZ Innovators Awards – ICT category and Supreme Award[16]
• 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[17]
• 2014 Gold Stevie Award for Vend's homepage video (American Business Awards)[18]
• 2014 Monocle Magazines's Top 25 in Retail[19]
• 2015 Gold Stevie Award for Customer Service (American Business Awards)[20]
• 2015 Silver Stevie Award for Vend's video with TopShelf Style (American Business Awards)[21][22]
• 2015 Deloitte NZ Fast50 – 7th fastest growing company in NZ[23]
• 2015 Industry Specific App of the Year – Xero UK[24]
• 2016 Deloitte NZ Fast50 – 38th fastest growing company in NZ[25]
• 2016 TIN100 Hot Emerging Companies New Zealand (2nd)[26]
• 2017 Vend named as the best all-in-one POS system for small businesses by Business News Daily[27]
• 2019 Newsweek Best Business Tools – POS[28]