VendAsta Technologies based in Saskatoon, Canada has successfully secured $8.25 million funds from BDC Venture Capital and Vanedge Capital in a Series B funding round. The fresh funding will help the fast growing company from Canada to accelerate the development of its platform in order to meet the demand of its partners for additional support, new tools and features. VendAsta Technologies basically offers consulting, product development services to internationally recognised customers and also works on its own products. VendAsta started its Reputation Management platform back in 2011 and in this short period the Saskatoon-based company has created partnerships with several channel partners, which include eight of the top ten newspaper organizations in America.
Explaining the platform and recently concluded funding round, the CEO of VendAsta, Brendan King said that, “We have built a white label reputation platform that allows businesses to monitor, manage and build their brand. This funding will allow us to accelerate the development of new products and maintain our culture of continual improvement.”
Senior Analyst of BIA/Kelsey, Jed Williams said on this occasion that, “For any business, digital fragmentation creates acute challenges in managing local brand reputation. The various channels that businesses must monitor and engage are seemingly endless. VendAsta’s platform closes the loop for businesses, supplying them with tools to succeed in the digital world.”
Managing Partner at Vanedge Capital, V. Paul Lee said that, “VendAsta Technologies has done an excellent job partnering with top tier media companies across North America. We have been told multiple times that VendAsta is a top vendor.”
The Senior Managing Partner of BDC Venture Capital, Robert Simon agrees with him, as he said that, “The SMB market has been, to a large degree, untapped. We see VendAsta growing to be a very significant company.”
BDC Venture Capital is a business development bank of Canada that supports Canada-based businesses by offering them consultation, flexible financing and venture capital. BDC is dedicated to work with entrepreneurs from any industry, but focuses more on medium and small size enterprises. BDC is an ideal VC to have, as it helps businesses grow from startup to the expansion phase.
In contrast to BDC, Vanedge Capital makes investments in digital media, with a prime focus on businesses that offer innovative technology, business model and design. Consumer software, enterprise software, gamification and games are some of the industries that interests Vanedge Capital a lot.
Source: TechVibes
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