The next month Lightspeed acquired Amsterdam-based eCommerce software developer SEOShop and announced that it would be expanding its product offering to serve both brick-and-mortar and online retailers.
In September 2015, Lightspeed closed a $61 million Series C round of funding led by Caisse de dépôt et placement du Québec and Investissement Québec, with participation from earlier investors Accel Partners and iNovia. The next year, its client base increased to 23,000 businesses in more than 30 countries. Lightspeed was serving 21,000 businesses and its per year transactions increased from $6 billion to $8.2 billion. The same year, it expanded its reach into the restaurant and hospitality industry in 2014 by the Belgian startup POSIOS. In September, Lightspeed closed a $35 million investment round led by iNovia Capital. On June 18, 2014, the company added Advanced Analytics to Lightspeed Retail's feature roster. At the time, the company had more than 15,000 store locations.
Lightspeed's customers processed $7.5 billion in 2013. It acquired MerchantOS, point-of-sale software developer, and Lightspeed Retail, an HTML5 web-based product that can be used from any computer in 2013. Īccel Partners led a $30 million investment round in 2012 and from 2012 to 2013, the company observed a 120% growth in annual transactions. The company is backed by iNovia Capital and Accel Partners. It has its offices in Silicon Valley, Olympia, Washington, New York City, Berlin, Amsterdam and Toronto. In 2014, it expanded its customer base to include the hospitality industry. Lightspeed was founded by Dax da Silva in 2005, with its headquarters in Montreal, to provide point-of-sale and e-commerce software to retail businesses.
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