Lightspeed raises USD30 million to improve offline retail experience

First external backing

In-store software provider, Lightspeed Retail, has scored USD30 million in a Series A round fully funded by Accel Partners. The investment marks the seven-year-old company’s first external backing. The Montreal-based firm helps brick-and-mortar stores keep up with their online counterparts, turning Mac computers, iPads and iPhones into point-of-sale systems and retail management tools to enhance consumer experience, sales performance and efficiency. Lightspeed will use the capital to hire new staff and expand geographically, planning to open a new office in New York, among other locations. The company says it also hopes to enhance its product offering and bring more big brands into its client base.

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