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Kounta (software company)

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Kounta
Company typeSubsidiary
IndustrySoftware as a Service
FoundedSydney, Australia
FounderNick Cloete
Headquarters
Sydney
,
Australia
Area served
Worldwide
ServicesPoint of Sale
Number of employees
70+
ParentLightspeed
Websitewww.kounta.com

Kounta is an Australian software company founded in 2012.[1][2][3] The company's flagship product, Kounta, comprises a cloud based point of sale mobile app.[4][5]

History

Kounta was founded in 2012 by entrepreneur Nick Cloete.[6][7][8] The company is headquartered in Sydney, Australia. In 2012, the company launched its flagship product, Kounta, a hospitality-focused point of sale (POS) mobile app for iPad, Android, Mac, and Windows.[9][10][11] The app was initially a web-based application, and later developed into an online cash register and inventory management system that allows businesses to take payments from customers via mobile devices. The app has been made available for iPad, iPhone, and Android devices; as well as iOS, Windows, and other peripherals.[12]

In 2012, Kounta partnered with Epson, providing a cloud-based POS platform for Epson printers.[13][14] In 2013, the company formed a partnership with PayPal, integrating cashless and cardless transaction options via PayPal's mobile app.[15][16][17] In 2014, MYOB (company) made an undisclosed investment towards Kounta.[18][19] This partnership led to the development of MYOB Kounta, a co-branded application merging Kounta's POS with MYOB's application software.[20][21][22][23] MYOB Kounta launched in October of the same year.[24][25][26]

In 2016, Kounta announced a partnership with the Commonwealth Bank of Australia to include the Kounta app onto "Albert", the bank's EFTPOS tablet.[27][28][29][30] This allowed the Commonwealth Bank of Australia to become the first bank to manage all customers operations from a single device and mobile application.[31][32][33]

Technology

The Kounta POS is a software-as-a-service (SaaS) that runs as an application in web browsers as well as natively on iOS and Android operating systems.[34]

Kounta also incorporates an Open API, making it possible for other software providers to integrate complementary apps, further extending the software's use.[35][36] Traditional IT tasks, such as data backup and encryption, hardware maintenance, and server upgrades are handled by Kounta's data center.[37] Kounta is made accessible via paid monthly subscription licenses.[38][39]

Acquisition by Lightspeed

In October 2019, Kounta was acquired by Lightspeed – a leading omnichannel point of sale platform based in Montreal, Canada. Kounta was Lightspeed’s third acquisition in 2019, and was acquired for $35.3 million USD.[40][41]

Lightspeed is an advanced commerce platform for retail, hospitality, and golf businesses across the world. With their headquarters in Montreal, Canada – they also have offices across North America, EMEA, as well as in the Asia-Pacific region.

The company was listed in the New York Stock Exchange in September 2020 under the same symbol, (NYSE: LSPD), which was used for their initial listing in the Toronto Stock Exchange (TSX). Lightspeed announced that their intention for their net proceeds is to ‘pursue...growth strategies.'[42][43]

The company acquired Vend – a cloud-based retail management software company based in Auckland, New Zealand.[44]

See also

References

  1. ^ "Australian POS startup Kounta launches in the US". ZDNet.
  2. ^ Drummond, Shaun (13 March 2016). "CBA gets behind Kounta's virtual cash register". The Sydney Morning Herald. Retrieved 29 April 2020.
  3. ^ "Lightspeed to bolster Asia-Pacific presence with acquisition of Australia-based Kounta". BetaKit. 21 October 2019. Retrieved 29 April 2020.
  4. ^ "Kounta eyes $1m in first round of venture funding". The Australian.
  5. ^ "Australian Startup Kounta Will Expand Into The US In 2015". Business Insider.
  6. ^ "Kounta Cloud-based POS". Sleeter.
  7. ^ "Retail POS startup Kounta kicks off investment". Delimitier. 20 May 2013.
  8. ^ "Australian POS startup Kounta launches in the US". ZDNet.
  9. ^ "Australian POS startup Kounta launches Android App". Yahoo Finance.
  10. ^ "From iPad to point of sale device: new app". Hospitality Magazine.
  11. ^ "Running a shop: Kounta app now available on iPad". Business IT.
  12. ^ "CBA gets behind Kounta's virtual cash register". The Sydney Morning Herald. 13 March 2016.
  13. ^ "Epson partners with Kounta for revolutionary cloud compatible retail printing solution". Epson.
  14. ^ "Australian startup snapshot: Kounta". TechWorld. 27 May 2013.
  15. ^ "PayPal goes cashless and cardless in Aussie cafes, bars, restaurants". Techradar. 22 July 2013.
  16. ^ "MYOB invest in POS startup Kounta". Startup Daily.
  17. ^ "What if, just what if, you could pay for your cappuccino using PayPal?". Australian Anthil Online. 18 July 2013.
  18. ^ "MYOB buys stake in cloud POS startup Kounta; Unions seeking pay rise from Coles may hurt SMEs: Midday Roundup". Smart Company.
  19. ^ "MYOB enhances cloud offering with minority stake in POS start-up, Kounta". MYOB.
  20. ^ "MYOB invest in POS startup Kounta". Startup Daily.
  21. ^ "The MYOB and Kounta Deal – What it means". Digital First.
  22. ^ "Software start-up Kounta wins MYOB investment". Financial Review.
  23. ^ "MYOB picks up stake in Kounta". The Australian Spectator.
  24. ^ "MYOB Kounta POS : Business made easier for retail & hospitality". Business First Magazine.
  25. ^ "The MYOB and Kounta Deal – What it means". Digital First.
  26. ^ "Kounta takes on MYOB investment". Startup Smart. 12 June 2014.
  27. ^ "CBA gets behind Kounta's virtual cash register". Brisbane Times. 13 March 2016.
  28. ^ "CBA and Kounta". The Sydney Morning Herald. 13 March 2016.
  29. ^ "CommBank adds Kounta app to PoS device". IBS Intelligence.
  30. ^ "CommBank adds Kounta app to Albert POS device". Finextra. 17 March 2016.
  31. ^ "Commonwealth Bank of Australia – Kounta Backing". WA Today. 13 March 2016.
  32. ^ "Introducing Kounta on Albert". Commonwealth Bank.
  33. ^ "CBA and Kounta". Canberratimes.
  34. ^ "From iPad to point of sale device: new app". Hospitality Magazine.
  35. ^ "Terms and Conditions". glassicasino1.in. 21 November 2022. Retrieved 18 January 2023.
  36. ^ "Add-On Review: Kounta Point of Sale". Two Peas.
  37. ^ "Kounta". Bloomberg. 11 August 2023.
  38. ^ "Boomtown Reviews: Kounta Point of Sale". Goboomtown.
  39. ^ "Kounta review". Merchant Maverick.
  40. ^ "Lightspeed POS Inc. Announces the Acquisition of Kounta". PR Newswire (Press release).
  41. ^ "Lightspeed to bolster Asia-Pacific presence with acquisition of Australia-based Kounta". Australian FinTech. 25 October 2019.
  42. ^ "Lightspeed begins trading on the New York Stock Exchange". betakit. 11 September 2020.
  43. ^ "Lightspeed POS announces U.S. IPO and listing on NYSE". BNN Bloomberg. 9 September 2020.
  44. ^ "Vend POS Opens First Office in Canada". www.businesswire.com. 21 August 2014. Retrieved 18 January 2023.
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