Venda Ltd., provider of on-demand e-commerce technology, has closed a $20 million round of equity financing, led by Investor Growth Capital, with existing investor GF Private Equity Group LLC, part of the Southern Ute Growth Fund, participating. In conjunction with the financing, Investor Growth Capital’s Noah Walley and Phil Dur will join Venda’s board of directors.
Venda provides e-commerce platforms to more than 100 retailers and manufacturers. The company says this financing will enable it to continue its rapid growth through accelerated investment in technical staff, customer support, infrastructure and marketing.
“Venda’s on-demand architecture eliminates the lengthy installation and customization services required by traditional solutions,” says Walley, a managing director at Investor Growth Capital. “In addition, Venda’s simple ‘one fee for all’ pricing model takes the mystery out of e-commerce investment.”