Headquartered in Montréal, Canada, Lightspeed is the most powerful cloud-based point-of-sale solution for independent businesses, in-store and online. Nearly 50,000 retailers and restaurateurs, processing over US $15 billion in transactions annually use Lightspeed to grow and manage their business. Lightspeed can be found in more than 100 countries, powering favorite local businesses, where the community goes to shop and dine. Founded in 2005, Lightspeed has grown to nearly 600 employees, with global offices in Canada, USA, Europe, and Australia.
Dax Dasilva was a very young programmer when he took on the task to deliver a simple and beautiful interface for point-of-sale services by helping Apple resellers enter a new market - retailers. We were trying to convince Dax to work with us at iNovia at the same time as he was entering venture capital due-diligence for the first time with Accel Partners. His first experience with VCs was so overwhelming that he asked us to wait until he was finished with the current due-diligence before starting with us. That's when we had to explain to Dax that the chances that we would still be considered as a VC partner "after" Accel completed a massive series A was somewhat unlikely. But the conversation didn't stop there, and months after closing his first capital injection into what was going to become Lightspeed POS, we invested $5M and helped attract talent and resources to a company that quickly grew to now over 650 people with operations in Canada, the USA and Europe.