Montreal-based Lightspeed which is a leading point-of-sale solution for independent retailers and restaurants, is seeing remarkable growth that includes having surpassed 50,000 global customers after seeing a record-breaking Series D investment of US $166 million. Head of an anticipated IPO, Lightspeed has announced the appointment of Brandon Nussey to Chief Financial Officer.
Mr. Nussey has a big job ahead of him — he will lead the company’s finance, legal, human resources, data and IT teams. In a recent conversation, Mr. Nussey explained his enthusiasm for working for the rapidly-growing Lightspeed, which he noted had an exceptional corporate culture under the leadership of founder and CEO Dax Dasilva. Lightspeed, which targets independents, is also known for embracing diversity within its workforce, as well as communities generally.
“Brandon’s expansive finance, investment and leadership experience are true assets to the Lightspeed team in the wake of our Series D round and as we look ahead to the company’s next steps,” said Mr. Dasilva “Our focus has always been on the success of the independents we support, and we’re excited to continue to deliver top innovations to enhance the advancement and mobility of their businesses.”
Over the past eight years and prior to joining Lightspeed, Mr. Nussey served as the Chief Financial Officer at D2L Inc., a leading SaaS-based education technology provider. During this time, he led the company through a period of hyper-growth where he helped attract US $165 million in growth financing from top-tier investors to support expansion into new verticals and geographies.
Over the course of his 20 years of experience as a technology executive, Mr. Nussey also served as Chief Financial Officer of The Descartes Systems Group and as an Executive in Residence at Communitech. Additionally, Mr. Nussey is Treasurer and Board member for the Loran Scholars Foundation, one of Canada’s most prestigious scholarship programs.
In a statement, Mr. Nussey said: “It’s a thrill to be appointed CFO at this pivotal time in Lightspeed’s growth. With the recent momentous investment, we have all the resources necessary to be the dominant player and leading innovator for our customers. There are big moves on the horizon that will support the success of independent retail and restaurants, and I believe Lightspeed can be Canada’s next great technology story.
Lightspeed has experienced consistent and rapid growth — the company recently ended its fiscal year, which saw record revenue growth and new customer additions. The thriving company boasts:
- Over 600 employees, with eight offices around the world
- More than 50,000 global customers
- A full suite of products and tools to help independent retailers and restaurants run their business better, including the industry’s most complete analytics solution with predictions and insights
- Many marquee retail brands that use the POS platform every day to power their business include: Todd Snyder, Want Les Essentiels, Draper James, Rocket Fizz, Malin+Goetz, Mike’s Bikes in California, RICARDO Boutique + Café
- A large and growing client list of restaurateurs, who have started to adopt new technology at a much faster pace than ever before. Some of the places that use Lightspeed include: La Marina NYC, Nobu Malibu, Lutze Biergarten, Zoku Amsterdam Hotel, Hummus Bros, Crêpeaffaire, and Detroit Foundation Hotel.
Founded in 2005 and now with more than 600 employees, Lightspeed processes more than US$15 billion annually in more than 100 countries. Mr. Nussey discussed the benefits to using Lightspeed, which launched an innovative analytics tool last year. Lightspeed Analytics, which is geared towards independent retailers, is designed to provide retailers with insights and recommendations into their sales, inventory, employee performance and customer behaviours, with an aim of providing retailers a competitive edge in their industry. We profiled Lightspeed Analytics at length in a previous article.