Lightspeed, a Montreal, Canada-based cloud POS platform for retailers and restaurants, raised US$61m in funding.
The round was co-led by Caisse de depot et placement du Quebec (CDPQ) and Investissement Quebec (IQ), with participation from existing investors Accel Partners and iNovia Capital.
The company, which has raised US$126m to date, intends to use the funds for global growth, technology infrastructure enhancements and investment in its omnichannel offering.
Founded in 2005 by Dax Dasilva, CEO, Lightspeed provides retailers and restaurateurs with a mobile POS and commerce platform to build, manage, and grow their business and create a better customer experience.
The platform is used by more than 25,000 businesses processing over $10 billion in transactions annually.