Vagabond Vending Lands $3 Million In Series A Funding

Posted On: 6/28/2016

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TAGS: Vagabond Vending, Middleburg Capital Development, IrishAngels, Gale Bowman, Michael Lovett, vending management system, Vagabond funding

WASHINGTON -- Vagabond Vending, a provider of route management and data analytics tools to vending operators, said it has closed more than $3 million across two related financing rounds. The first round is being led by early-stage venture capital firm Middleburg Capital Development (Middleburg, VA), and will be followed by a round from Chicago-based IrishAngels.

Blu Venture Investors (Vienna, VA) and other individual angel investors participated in both rounds. In addition, Vagabond said it has engaged with Middleburg Capital Development and South Bend, IN-based 1st Source Capital Corp. on a financing agreement that enables Vagabond to provide capital to operators deploying new technologies.

Vagabond's platform includes Web and mobile apps that allow vending businesses to interface directly with their machines remotely, in real time.

"With its unique hardware and software solutions, we believe Vagabond is well positioned to disrupt the vending industry," said IrishAngels managing director Gale Bowman. "We were impressed with the leadership team and the fact that they had run several vending routes before starting the business to learn firsthand about the pain points of a vending operator."