LemonStand quenches financing thirst with freshly squeezed seed funding

LemonStand started the day with some sweet seed funding this morning.

The Vancouver startup has secured an undisclosed amount of financingfrom the Business Development Bank of Canada’s IT Venture Fund and fourangel investors: Michael Klinger, Paul Rochester, Kalle Radage (chiefproduct officer at Vancouver-based Payfirma) andMichael Weider (VP at Ottawa-based Akamai Technologies, founder ofWatchfire and ex-CEO of Blaze Software).

Screen shot from LemonStand’s Website.

LemonStand’s ecommerce platform helps mid-sized retailers anddevelopers create customized online stores in an easy, affordable way.The two-year-old firm said that in the past year its customer base hasdoubled and its merchant transactions have grown by 250 per cent.

The company’s platform was released into public beta in January andwent into wide release in July. Commercial licenses for the platformstart at $299 but developers canuse a free trial version here.

In May, LemonStand was one of 20 Canadian startups chosen for 48 Hoursin the Valley. The  program is run by the C100, agroup ofCanadians working in Silicon Valley who provide mentorshipopportunities for fellow Canadians in California’s techsector. 

Source | LemonStand

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Christine Wong
Christine Wonghttp://www.itbusiness.ca
Christine Wong has been an on-air reporter for a national daily show on Rogers TV and at High Tech TV, a weekly news magazine on CTV's Ottawa affiliate. She was also an associate producer at Report On Business Television (now called BNN) and CBC's The Hour With George Stroumboulopoulos. As an associate producer at Slice TV, she helped launch two national daily talk shows, The Mom Show and Three Takes. Recently, she was a Staff Writer at ITBusiness.ca and is now a freelance contributor.

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