Vendasta Technologies Inc.

Vendasta Technologies Inc. in its $40 million growth funding

Client

Vendasta Technologies Inc.

Value

$40 million

Service

Emerging and High Growth Companies

Date Closed

July 2019

Industry

Venture Capital

Lead Office

Vancouver

 

On July 18, 2019, Vendasta Technologies Inc. announced its $40 million private equity capital funding. Investors included the Canadian Business Growth Fund, Comporium Inc, Saskworks Venture Fund, Vanedge Capital and BDC Capital IT Venture Fund. This growth capital round is the largest-ever investment in a Prairies information and communitarian technology (ICT) company based on data collected by the Canadian Venture Capital Private Equity Association.

Vendasta plans to use this growth capital to expand its presence in Saskatoon by growing its current team of 285 to over 650 throughout the next three years. Vendasta is looking to expand into new channels including banks, telcos, and insurance.

Vendasta, based in Saskatoon, is a software company that builds and curates a sales and marketing platform of digital business solutions for sale by channel partners to their small and medium clients.

Osler, Hoskin & Harcourt LLP advised Vendasta Technologies Inc. with a team led by Justin Young and consisting of Jacques Du Plessis, Tara Folk (Emerging & High Growth Companies), Colena Der (Tax) and Adam LaRoche (Privacy).