August 25th, 2014 Washington, DC – Vagabond, a cloud-based mobile software and vending management solutions (VMS) provider, has closed $550K in seed financing to execute additions to its product portfolio that include the Insight telemetry hardware and M2M network communications services. The combination equity and debt infusion will be used to enhance Vagabond’s existing software offering, complete the build-out of its communications network platform and stock the shelves with Insight inventory.
In addition to enabling the commercialization of Vagabond's 3G Insight telemetry services, the financing round brings an experienced group of advisors to the team. The roster of incoming investor-advisors includes John Powell (veteran of US Wireless Data, Transaction Network Services, and Cantaloupe Systems), Scott Meskin (President of Baltimore-based Black Tie Services), and Barry Glick (founder of MapQuest). Other incoming investor-advisors bring significant experience within the investment banking, e-commerce, merger and acquisitions, and telecommunications industries to the Vagabond team.
“Vagabond has built a flexible technology platform upon which we will provide service with partners from all aspects of the vending technology marketplace. Guidance from this experienced group of strategic individuals will help us to accomplish those partnership goals and quickly scale the number of machines implementing the Vagabond VMS solution”, said Juan Jorquera, President of Vagabond. “We are excited to take part in the continued revitalization of the industry with our intuitive, low-cost and real-time VMS platform.”
Vagabond begins shipping its 3G cellular Insight telemetry devices early September 2014 to operator partners. Improvements to the Vagabond web user interface are also slated for release in the coming months.
About Vagabond:
Vagabond Vending develops the Vagabond mobile vending operations toolset, which saves vending operators time and money by helping them run their vending operation more efficiently. Vagabond provides live views of machines, real-time inventory information and comprehensive sales & financial reports. Managing products, routes and labor with Vagabond enables the operator to maximize revenues and reduce costs.
In addition to offering its own Insight telemetry hardware, Vagabond integrates with other industry available telemetry hardware and any web, mobile or tablet device. Customers use the mobile app and web interface to manage the day-to-day field operations, operational analysis, reporting tools, cash accounting and administration. Please call Juan Jorquera at 202.695.8228 or email [email protected].
