lightspeed

lightspeed

The Canadian point-of-sales software company Lightspeed has nabbed two Southern California ecommerce startups as online shopping continues to soar.

Lightspeed is acquiring the Encinitas-based ecommerce site Ecwid for an estimated $500 million. For $425 million it'll buy NuORDER, a Los Angeles platform connecting retailers and wholesalers to brands like Steve Madden and Helmut Lang.

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Valence, a tech platform and professional network launched last year that connects Black founders, announced its inaugural funding network Thursday. The list includes investors at top firms including Sequoia Capital, Accel and Upfront Ventures.

"For years, Black entrepreneurs have been told that Silicon Valley is a meritocracy, but at the same time most haven't had access to the top networks, the warm introductions, and the mentorship that underpin lasting success in tech. Valence is upending this completely by bringing the top VCs to compete for the best Black entrepreneurs." said Valence co-founder and general partner at Upfront Ventures, Kobie Fuller. "We want to even the playing field with the goal of exponentially growing the number of Black-owned startups that get funded."

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