Best Vendors Founder Billy Weisman Joins Vengo Labs In Advisory Role

Posted On: 4/16/2019

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NEW YORK CITY -- Vengo Labs announced that Billy Weisman, the founder of Best Vendors Management, has joined the company in an advisory role. New York City-based Vengo Labs is a marketing technology company that engages consumers with digital vending machines by combining digital out-of-home media, product sampling and retail.

Weisman started his career with a vending route in Minneapolis, MN, and grew it into the largest national unattended service management company in the country. Still based in Minneapolis, the company is now a division of Compass Group and Canteen.
 
"I'm very pleased to see the next generation of the industry starting to unfold," Weisman said. "There is a lot of opportunity to incorporate new technology into automated retail. The team at Vengo has executed incredibly well and I am excited to be involved with and help drive Vengo's future growth."

"Billy Weisman is a legend in the vending industry," said Vengo chief executive Brian Shimmerlik. "More importantly, he understands how to identify unique business models and scale companies. I've learned a ton from him and am eager to leverage his industry expertise and knowledge."
 
The news comes after Vengo recently announced its $7 million in Series B funding round. The round was led by Arcade Beauty, an Oaktree Capital portfolio company and the largest manufacturer of beauty samples in the world.
 
Funds will be used to scale Vengo's presence in universities and fitness centers  and to begin testing new applications, with an initial focus on the beauty industry. Also participating in the round are SPINS, Bill Apfelbaum, and Kensington Capital Ventures. Previous investors include Tony Hsieh, Brad Feld, hip-hop artist Nas, Gary Vaynerchuk, David Tisch and Joanne Wilson.

Vengo Labs' digital kiosks serve both marry the convenience of online shopping with instant access to sample and purchase physical products. Vengo says it has more than 1,100 digital kiosks deployed at college campuses, fitness centers, hotels and other high-traffic locations. Its hybrid retail and marketing tech solution creates targeted new retail, sampling and media opportunities for brands.
 
Qualifying vending operators can place their own Vengo machines and the company continually seeks suppliers interested in advertising or distributing their products through Vengo's network.
 
Vengo Labs, founded by Brian Shimmerlik and Steven Bofill, was first introduced to consumers via its $2 million deal on ABC's Shark Tank from investors Kevin O'Leary and Lori Greiner in 2016.