Saskatoon software startup Vendasta has acquired Boston-based Yesware, in a deal Vendasta says will expand its sales enablement and marketing automation capabilities.
The financial terms of the transaction, which will see Vendasta integrate Yesware into its portfolio of service offerings, were not disclosed.
The Yesware deal marks Vendasta’s third acquisition in the past year or so.
Vendasta co-founder and CEO Brendan King described Yesware and Vendasta as “complementary businesses,” noting that this move “will increase the speed we bring great technology to market, and pushes both companies’ product roadmap ahead significantly.”
Founded in 2008, Vendasta offers cloud-based commerce software for companies that provide digital products and services to small and medium-sized businesses (SMBs). The Saskatchewan startup’s platform connects over 60,000 channel partners to almost six million SMBs, helping those firms find and buy software.
The Yesware deal marks Vendasta’s third acquisition in the past year and a half, since the company paused its initial public offering plans and raised $119.5 million CAD in venture funding in May 2021 after investor demand for new tech listings cooled.
In October of last year, Vendasta purchased artificial intelligence-powered automated scheduling software firm CalendarHero, and this January, Vendasta bought search, display, and social advertising tech company MatchCraft.
Vendasta’s acquisition of Yesware also comes a couple of months after the company laid off over 30 of its approximately 700 employees, joining a growing list of tech companies to cut costs and reduce headcount amid worsening economic conditions.
Founded in 2010 by CEO Joel Stevenson, who previously launched Wayfair’s B2B division, Yesware provides tech tools like email tracking and campaign management to sales teams. As of 2018, Yesware had raised a total of $48 million to date from a list of investors that included Foundry Group, Battery Ventures, and Google Ventures.
According to Vendasta, Yesware brings “a tenured team with industry-leading experience and a complementary customer base” to the company, and will give Vendasta’s channel partners new tech to drive revenue and boost customer engagement.
Feature image courtesy Vendasta.