Saskatoon-based VendAsta Technologies, a provider of white label digital brand management solutions, has raised $8.25 million in Series B funding from Vanedge Capital and BDC Venture Capital.
The Saskatchewan company says that the new round of funding will help it accelerate platform development to meet partner demand for new features and tools, and provide additional support.
VendAsta launched its Reputation Management platform in 2011 two years. Now its channel partners include eight of the top 10 newspaper companies in the US among other companies.
“We have built a white label reputation platform that allows businesses to monitor, manage and build their brand,” explains Brendan King, CEO of VendAsta. “This funding will allow us to accelerate the development of new products and maintain our culture of continual improvement."
“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,” says Jed Williams, Senior Analyst at BIA/Kelsey.
"VendAsta Technologies has done an excellent job partnering with top tier media companies across North America,” said V. Paul Lee, Managing Partner at Vanedge Capital. "We have been told multiple times that VendAsta is a top vendor."
“The SMB market has been, to a large degree, untapped. We see VendAsta growing to be a very significant company," agrees Robert Simon, Senior Managing Partner at BDC Venture Capital/