VNDLY — A different breed of VMS or a different solution species altogether?

VNDLY, the cloud-based workforce management system (WMS) provider that has been creating waves in the VMS solution market, recently announced a $35 million Series B round. The equity funding to date of $49 million since the company’s inception in 2017 features some big hitter investors such as Insight Partners and Battery Ventures (and ServiceNow — but more on this later). According to the announcement, the $35 million from the Series B will be used “for continued product innovation, global expansion, and the continued investment in customer service and support” (a somewhat vanilla description of what is to come for a self-proclaimed innovator in the space). Nonetheless, VNDLY’s recent news has, in effect, thrown down a gauntlet to incumbent VMS providers — and also thrown up a flare to attract the interest of contingent workforce and services procurement managers looking for a next-generation platform (not just applications) to quickly build out diverse use cases.

The investment ramp up seems to confer increasing confidence in VNDLY, its next-generation platform, business strategy and its ability to execute. Moreover, the company has reported traction in the marketplace, having added “multiple new clients (over the past) year, including 12 Fortune 500 companies.” VNDLY’s co-founder and CEO, Shashank Saxena, has stated, “we've not only been able to validate the market’s readiness for a new and modern cloud-native VMS platform, but also validate that large enterprise customers are willing to replace their legacy VMS solutions to upgrade and modernize with VNDLY.”

In this Spend Matters PRO brief — keeping contingent workforce and services procurement practitioners in mind — we provide some information about the VNDLY solution and approach to the market. Note: We have already covered VNDLY extensively in the past year in the Temp Staffing SolutionMap as well as related SolutionMap and PRO content (see VNDLY: What Makes It Great (Temp Staffing/VMS SolutionMap Analysis) and VNDLY Closes $11 Million Series A Funding Round: A VMS Category Buster in the Making? [PRO]). We will also discuss the bigger picture — the coincidence of VNDLY’s emergence and seemingly accelerating evolution in the contingent workforce and service technology space and what practitioners should be aware of as they think about addressing contingent workforce and services in the future.

So what is VNDLY? Let's find out.