Online point-of-sale software provider Vend has secured $20 million in a Series B financing round led by Peter Thiel of Valar Ventures and Square Peg Capital. The company provides an HTML5 retail POS that works on any device or platform, enabling retailers to process sales, track inventory and manage customers. Launched in 2010, Vend now powers over 10,000 stores in more than 100 countries.
The new funds will expand Vend's presence in the North American market through new partnerships, customers and staff, as well as globally. The company is also expanding its channel of resellers and building on their list of industry partners, which currently include PayPal, Xero, Stitchlabs and Swarm. Vend last raised a $6.6 million funding round and now has a total of nearly $30 million of VC backing.