Īccel Partners led a $30 million investment round in 2012 and from 2012 to 2013, the company observed a 120% growth in annual transactions. Profit has ranked Lightspeed 24th in 2011 and 61st in 2012 on its list of 'Canada's 200 fastest growing companies'. The company is backed by iNovia Capital and Accel Partners. It has its offices in Montreal, New York, Ottawa, Toronto, London, Paris, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. In 2014, it expanded its customer base to include the hospitality industry. Lightspeed was founded by Dax da Silva in 2005, with its headquarters in Montreal, to provide point-of-sale and e-commerce software to retail businesses. It offers its services to retail, restaurant, and hospitality businesses. It has offices in Montreal, New York, Ottawa, Toronto, London, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. It was founded in 2005 by Dax da Silva who served as the CEO of the company until February 2, 2022. Lightspeed Commerce is a point-of-sale and e-commerce software provider based in Montreal, Quebec, Canada.