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$9 million ($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]

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.[12]

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.[13]

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.[14][15][16]

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.[17]

• 2011 NZ Innovators Awards - ICT category and Supreme Award[18]
• 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[19]
• 2014 Gold Stevie Award for Vend's homepage video (American Business Awards)[20]
• 2014 Monocle Magazines's Top 25 in Retail[21]
• 2015 Gold Stevie Award for Customer Service (American Business Awards)[22]
• 2015 Silver Stevie Award for Vend's video with TopShelf Style (American Business Awards)[23][24]
• 2015 Deloitte NZ Fast50 - 7th fastest growing company in NZ[25]
• 2015 Industry Specific App of the Year - Xero UK[26]
• 2016 Deloitte NZ Fast50 - 38th fastest growing company in NZ[27]
• 2016 TIN100 Hot Emerging Companies New Zealand (2nd)[28]
• 2017 Vend named as the best all-in-one POS system for small businesses by Business News Daily[29]
• 2019 Newsweek Best Business Tools - POS [30]