Lightspeed POS provides cloud-based point-of-sale technology for retail and restaurant businesses, supporting both in-store and online operations. Founded in 2005 by Dax Dasilva and headquartered in Montreal, the company serves nearly 50,000 retailers and restaurateurs across more than 100 countries and processes over US$15 billion in transactions annually. Lightspeed supports multiple languages and currencies and has nearly 600 employees with offices in Canada, the USA, Europe and Australia. Its customer roster includes brands such as Todd Snyder, Eataly, Nobu Malibu and the Montréal Canadiens. The company intends to use the funds to continue development efforts and to expand globally. Lightspeed provides retailers and restaurateurs with a mobile point-of-sale and commerce platform to build, manage and grow their businesses. The platform supports omnichannel commerce and is used by more than 25,000 businesses, processing over $10 billion in transactions annually. Founded in 2005 by Dax Dasilva, Lightspeed offers mobile POS and related tools tailored to retail and restaurant operations. The company intends to use recent funding for global growth, technology infrastructure enhancements and investment in its omnichannel offering. As of the article, Lightspeed had raised US$126m to date. The product focus and scale position the company to continue expanding its commerce footprint. LightSpeed provides point-of-sale software that helps brick-and-mortar retailers increase sales and improve customer experiences online through unified sales, inventory and customer insights. The company offers a central platform for updating listings, images and prices across multiple locations and websites. After acquiring Belgian startup POSIOS, LightSpeed launched LightSpeed Restaurant and established a European development headquarters in Ghent to manage the new restaurant product. The restaurant service, available immediately, extends the platform to restaurants, event managers and caterers and supports visual menus, customer tabs, seating and table management, payments and bills. LightSpeed last month raised a $35 million investment round led by iNovia Capital and is also backed by Accel (which invested $30 million in June 2012). The company now services more than 21,000 businesses worldwide and says its platform is on track to process $8.2 billion in sales transactions per year. Offices include Montreal, New York, Olympia, Ottawa, Santa Cruz and Belgium. LightSpeed provides point-of-sale and retail-management software for Macs, iPads, and iPhones that combines payment processing, inventory management, and customer-facing features like its Show and Tell iPad tool. The company was founded in 2005 and has been largely bootstrapped prior to this fundraise. Its services are used by almost 10,000 retailers and Profit Magazine named it the fastest-growing company in Quebec after revenue grew about 2,000% over the prior five years. Customers include brands such as Adidas and Vespa, though usage can be limited to specific formats like pop-up stores. LightSpeed plans to open new offices (including New York), internationalize its software, expand the product, and pursue larger national retail customers.

Total raised

$292M

Funding rounds

4

Latest round

Series D

Latest activity

Oct 2017