VNDLY: $8.5 Million Funding And Steve Singh Joins Board

By Annie Baker ● May 6, 2020
  • VNDLY, a leading cloud-based workforce management systems provider, announced it raised $8.5 million. And Steve Singh has joined the company’s board.

VNDLY — a leading cloud-based workforce management systems provider — announced it raised $8.5 million in Series B-1 funding led by Madrona Venture Group. Steve Singh, Managing Director at Madrona Venture Group, will join the VNDLY board in connection with the funding. Including this round of funding, the company has raised a total of $57.5 million with the previous Series B investments totaling $35 million in 2019.

Launched in 2017, VNDLY is recognized by industry experts as a top-ranking technology provider in the vendor management systems category (VMS). And the company — which already has many Fortune 500 clients — plans to use the most recent investment to continue its industry-changing innovation, global expansion, and product development that includes building out new software modules.

Singh, the former CEO and co-founder of Concur (acquired by SAP in 2014 for $8.3 billion), joined Madrona earlier this year as a managing director after participating for many years as a strategic advisor and angel investor.

Singh remained with the company through 2017 and was responsible for the majority of their cloud businesses like Ariba, Fieldglass, and Concur. And Singh currently serves as the Chairman of Talend and on the boards of DocuSign and WaFd Bank.

Key Quotes:

“We’re honored that Madrona sees VNDLY in the same light as the other technology greats they stand behind. We know this will be a major driver for us as we move to the next level in our industry, continuing our mission to successfully challenge the status quo offered by legacy VMS firms.”

– VNDLY’s CEO Shashank Saxena

“As the contract workforce grows, VNDLY’s cloud-native vendor management solution gives employers and contractors an AI-based platform that adapts to the changing needs of both groups. I am looking forward to working with Shashank and the VNDLY team to build the market-leading workforce management company.”

– Steve Singh