Vendasta Funding, Investors & Competitors

Vendasta has raised $192M across 5 funding rounds, most recently a $51M undisclosed-stage round in October 2023.

Last Vendasta funding round

$51M

Undisclosed stage · Oct 2023

Cumulative funding Vendasta raised

$192M

across 5 funding rounds

Key investors in Vendasta

  • Vanedge Capital
  • BDC Capital
  • Canadian Business Growth Fund
  • Foundry Group
  • Business Development Bank of Canada
  • SaskWorks Venture Fund
  • Lugard Road Capital
  • Nicola Wealth Management

Vendasta Overview

About Vendasta

Vendasta is a Saskatoon-headquartered white-label marketplace that equips agencies and enterprises to resell digital services to small businesses. Founded in 2008, the platform offers SEO tools, reputation management, social media publishing, and fulfillment services branded for partners. Vendasta serves over 60,000 channel partners globally, including GoDaddy and AT&T, automating billing and client delivery.


Founded

2008

HQ

CanadaSaskatoon

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Vendasta Funding History

Vendasta has raised a total of $192M across 5 funding rounds.

Vendasta's first fundraising round was a $8M Series A in March 2013. The most recent completed round was a $51M undisclosed-stage round in October 2023.

Vendasta funding rounds

Vendasta funding rounds
DateStageInvestorsRaisedDeal Summary
Oct 2023Undisclosed stageFoundry Group (lead)$51MVendasta, a Saskatoon-based software company founded in 2008, provides digital tools that help channel partners market, sell, bill, fulfill, and deliver solutions to small-to-medium-sized businesses (SMBs), serving over 200,000 SMBs with more than 750 employees. The company closed a CAD 20 million equity Series E round in November 2023 led by Foundry Group, with minor participation from existing shareholders, bringing total funding to approximately $185 million. This round also converted a CAD 52.5 million debenture from prior investors Luxor Capital and the Canadian Business Growth Fund into equity, resulting in a clean capital structure with no outstanding debt and funds earmarked for further acquisitions following purchases of Foundry portfolio companies Yesware and Broadly. Vendasta claims a revenue run rate north of $100 million as of the Series E announcement. Vendasta's reseller channel model differentiates it in the challenging SMB SaaS market, enabling scale where direct-to-SMB sales have faltered for many competitors. Foundry partner Brad Feld joined the board post-investment.
May 2021Series DLugard Road Capital (lead); BMO Nesbitt Burns; Comerica (TLS unit); Nicola Wealth Management; Canadian Business Growth Fund$99MVendasta, headquartered in Saskatoon, Saskatchewan, Canada, is an end-to-end ecommerce platform founded in 2008 that enables channel partners such as marketing agencies, media companies, MSPs, ISVs, and VARs to market, sell, bill, fulfill, and deliver digital solutions to small and medium businesses (SMBs). The platform integrates marketing automation, CRM, order and billing management, payments, fulfillment, and a wholesale marketplace offering categories like advertising, content, insurance, listings, reputation, SEO, social, and websites. It serves over 50,000 registered channel partners who reach more than five million SMBs worldwide, with 525+ employees as of the announcement. On May 27, 2021, Vendasta announced a historic C$119.5 million financing round with investors including BMO Nesbitt Burns, Canadian Business Growth Fund, Comerica (TLS unit), Lugard Road Capital as lead, and Nicola Wealth Management. The funds are intended to accelerate sales growth amid strong momentum from COVID-19-driven digital adoption by SMBs. At the time of the round, Vendasta reported annual recurring revenue of more than $50 million, highlighting its expansion-stage traction with a reach of five million SMBs through its partner network. The company positions its tightly integrated operating system as a single sign-on solution for SMB digital products and analytics.
Jul 2019Series CCanadian Business Growth Fund (lead); Comporium; SaskWorks Venture Fund; Vanedge Capital; Business Development Bank of Canada$31MVendasta is a Saskatoon-based cloud commerce platform that enables channel partners such as agencies, broadcasters, publishers, banks, and telecoms to market, sell, bill, fulfill, and deliver digital solutions to small and medium-sized businesses (SMBs). Founded in 2008, the company had grown to serve over 50,000 registered channel partners and 5 million SMB clients by 2021, with a workforce exceeding 500 employees. It positions itself as an end-to-end ecommerce platform for local experts providing technology to SMBs, including a marketplace of resellable solutions from over 50 third-party vendors. In July 2019, Vendasta raised $40 million CAD in a growth capital round, the largest-ever investment in a Prairies ICT company at the time, led by the Canadian Business Growth Fund with $25 million, alongside $15 million from Comporium, SaskWorks Venture Fund, Vanedge Capital, and BDC Capital IT Venture Fund. This brought total funding to over $57 million, following a prior $15 million raise in May 2019 and $3.3 million from the federal government's Western Innovation Initiative. The funds supported international expansion amid rising SMB demand for SaaS, projected to reach a $76 billion market in the US by 2020. Vendasta had been named among Canada's 50 fastest-growing tech companies and Deloitte's top 500 in North America, as well as on Canadian Business Magazine’s Growth 500. Subsequent developments included a record C$119.5 million raise in May 2021 led by Lugard Road Capital, with participation from CBGF and others, marking the largest ICT VC round in Prairie history and plans to hire 150 more staff.
May 2016Series BVanedge Capital (lead); BDC Capital$3M-
Mar 2013Series ABDC Capital (lead); Vanedge Capital (lead)$8MVendasta, a Saskatoon-based provider of white-label technology solutions, raised funding from Vanedge Capital and BDC Venture Capital in March 2013. The company develops a cloud commerce platform for small and medium businesses, enabling digital solutions through partners like agencies and telcos.

Who has invested in Vendasta?

11 investors have backed Vendasta across its funding rounds, including Vanedge Capital, BDC Capital, Canadian Business Growth Fund, Foundry Group, Business Development Bank of Canada and SaskWorks Venture Fund.

Lead investors include Foundry Group, Lugard Road Capital, Canadian Business Growth Fund, Vanedge Capital and BDC Capital.


Vendasta Investors

Investors in Vendasta by funding rounds participated
InvestorHQRoundsRoleFirst check
Vanedge CapitalCanadaVancouver3LeadMar 2013
BDC CapitalCanadaMontreal2LeadMar 2013
Canadian Business Growth FundCanadaToronto2LeadJul 2019
Lugard Road CapitalUnited StatesNew York City, NY1LeadMay 2021
ComporiumUnited StatesUnited States1ParticipantJul 2019
SaskWorks Venture FundCanadaRegina1ParticipantJul 2019
Foundry GroupUnited StatesBoulder, CO1LeadOct 2023
BMO Nesbitt BurnsCanadaToronto1ParticipantMay 2021
Comerica (TLS unit)United StatesSan Francisco, CA1ParticipantMay 2021

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Acquisitions by Vendasta

Vendasta has acquired 4 companies to date.

Last acquisition by Vendasta was on March 17th 2023. Vendasta acquired Broadly for undisclosed valuation.


Latest Acquisitions by Vendasta

Broadly
Yesware
MatchCraft
CalendarHero
Description
Broadly is a Denver-headquartered SaaS company delivering reputation management and customer communication tools for small businesses nationwide. The platform centralizes review collection across Google, Yelp, Facebook, and custom websites via single-click prompts. Broadly integrates messaging, payments, and scheduling into one dashboard accessible from mobile devices. Serving sectors like home services, healthcare, and retail, it automates follow-ups to boost positive feedback rates. The company powers operations for multi-location chains with real-time analytics on customer sentiment and response performance.
Yesware is a sales enablement platform integrated with Gmail and Outlook. Installed over 1.2 million times, it provides email tracking, prospecting, meeting scheduling, and team analytics for small businesses and enterprises with up to 1,000-person teams. Clients including Yelp, Twitter, and Monday.com use it for revenue workflows.
MatchCraft is a Santa Monica, California-headquartered global pay-per-click management platform serving small and medium-sized businesses. The company operates offices in Leiden, Netherlands; Sao Paulo, Brazil; and Mumbai, India, supporting campaigns in 42 countries and 23 languages. Founded in 1998, its advantage platform features conversion-based bidding, Google Analytics integration, call tracking, reverse proxy technology, and advisor business taxonomy for scalable local advertising.
CalendarHero is a Toronto-headquartered productivity platform that automates meeting scheduling and task management for professionals and teams. Formerly known as Meeter, the service integrates with Zoom, Google Meet, and Microsoft Teams to book calls based on availability, manage workloads, and set reminders. It serves over 100,000 users worldwide, including agencies and sales teams, by syncing calendars and prioritizing appointments through AI-driven suggestions.
HQ CountryUnited StatesUnited StatesUnited StatesCanada
HQ City
San Francisco, CA
Boston, MA
Los Angeles, CA
Toronto
Deal Date17 Mar 202317 Oct 202211 Jan 202226 Oct 2021
Valuationundisclosedundisclosed$22Mundisclosed
EV/Revenue
EV/EBITDA

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Vendasta Competitors

Vendasta competitors include listed companies like Alibaba Group and Beijing United, and private ones like Dutchie, GrubMarket, Infra.Market and Moglix.

Public and private companies comparable to Vendasta
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Alibaba GroupChinaChinaPublicly listed$153B$15B$266B1.6x
DutchieUnited StatesBend, ORPrivate$45M-$3.8B83.3x
GrubMarketUnited StatesSan Francisco, CAPrivate--$3.5B-
Infra.MarketIndiaMumbaiPrivate$1B-$2.8B-
MoglixSingaporeSingaporePrivate--$2.5B-
Beijing UnitedChinaChinaPublicly listed$7.6B$373M$2.2B0.2x

Vendasta Public Comps

Vendasta is still privately-owned, but its public comps include Alibaba Group, Carvana, Rocket Companies, Shein, JD Health, Wayfair, Lenskart, PB Fintech, Chewy and Zozo.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
Carvana$20B($110M)3.7x2.9x(691.4x)27.7x
Rocket Companies$6.3B$1.4B7.8x5.0x36.3x19.2x
Shein$42B$2.3B0.2x-3.5x-
JD Health$11B$713M0.6x0.6x9.8x8.6x
Wayfair$12B$120M1.3x1.2x136.4x19.8x
Lenskart$916M$189M13.3x11.6x64.8x55.5x
PB Fintech$708M$58M11.7x10.1x143.3x101.3x

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Common questions about Vendasta

When was Vendasta founded?Vendasta was founded in 2008.
Where is Vendasta headquartered?Vendasta is headquartered in Saskatoon, Canada.
Is Vendasta publicly listed?No, Vendasta is a private, VC-backed company.
How much funding has Vendasta raised?Vendasta has raised $192M across 5 funding rounds.
What was Vendasta's last funding round?Vendasta's last funding round was a $51M undisclosed-stage round in October 2023, led by Foundry Group.
Who are Vendasta's investors?Vendasta's investors include Vanedge Capital, BDC Capital, Canadian Business Growth Fund, Lugard Road Capital, Comporium, SaskWorks Venture Fund, Foundry Group, BMO Nesbitt Burns, Comerica (TLS unit), Nicola Wealth Management and 1 other.
Which companies are comparable to Vendasta?Companies comparable to Vendasta include Alibaba Group, Dutchie, GrubMarket, Infra.Market, Moglix and Beijing United.
How many companies has Vendasta acquired?Vendasta has acquired 4 companies, including Broadly, Yesware, MatchCraft and CalendarHero.
What was the largest acquisition by Vendasta?The $22M acquisition of MatchCraft in January 2022 is the largest acquisition Vendasta has made to date.

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