Total amount raised
$48.3 Millions
Latest funding date
06/01/2018
Location
Acumatica has successfully raised funds through multiple rounds, with its last funding round being a Series C on June 18, 2018. The company has attracted investments from notable firms such as Accel-KKR and Runa Capital.
Keep reading to explore the intricacies of Acumatica's fundraising journey and the investors backing this innovative platform.
What Is Acumatica?
Acumatica, founded in 2006, is a leading provider of cloud-based Enterprise Resource Planning (ERP) software. The company is headquartered in Bellevue, Washington, and was founded by John S. Howell, Jr., Mikhail Chtchelkonogov, and Serg Bell.
Specializing in industries such as cloud computing, CRM, and enterprise software, Acumatica offers a range of business management solutions tailored for small and mid-sized companies. The company employs between 501 and 1000 people, focusing on delivering intelligent workflows and flexible deployment options to help businesses thrive in the digital economy.
How Much Funding Has Acumatica Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: November 3, 2009
- Lead Investors: Almaz Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial capital for product development and market entry.
- Series B
- Amount Raised: Not publicly disclosed
- Date: September 13, 2011
- Lead Investors: Visma
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Series C
- Amount Raised: $10M
- Date: November 18, 2013
- Lead Investors: Almaz Capital, Runa Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and scale operations.
- Venture Round
- Amount Raised: $13.3M
- Date: October 21, 2014
- Lead Investors: MYOB
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and develop a localized ERP product in partnership with MYOB.
- Series C
- Amount Raised: $25M
- Date: June 18, 2018
- Lead Investors: Accel-KKR
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and enhance product capabilities.
Total Amount Raised: $48.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Accel-KKR
- Details: Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm specializes in partnering with software and IT-enabled businesses.
- Investment Focus Areas: Software, IT services, technology-enabled services.
- Notable Investments: Seequent, Infinisource, HighJump Software.
- MYOB
- Details: MYOB is an Australian software company that provides tax, accounting, and other business services software to small and medium businesses.
- Investment Focus Areas: Accounting software, payroll solutions, business management software.
- Notable Investments: Greentree, PayGlobal, BankLink.
- Almaz Capital
- Details: Almaz Capital is a venture capital firm that invests in early-stage technology companies in the United States and Eastern Europe.
- Investment Focus Areas: Cloud computing, enterprise software, IT infrastructure.
- Notable Investments: GridGain, Jelastic, StarWind Software.
- Runa Capital
- Details: Runa Capital is a global venture capital firm that invests in early-stage software and deep tech companies.
- Investment Focus Areas: SaaS, cloud computing, machine learning.
- Notable Investments: Nginx, MariaDB, Zopa.
- Visma
- Details: Visma is a leading provider of business software and services for accounting, payroll, and other administrative functions.
- Investment Focus Areas: ERP software, payroll solutions, business management software.
- Notable Investments: Tripletex, e-conomic, Bluegarden.
What's Next for Acumatica?
Acumatica stands at the cusp of significant growth opportunities, driven by its strategic partnerships and innovative technology platform. The collaboration with MYOB to develop a localized, cloud-based ERP product opens doors to new markets and enhances their technological capabilities. This multi-million dollar agreement signifies a substantial financial and market opportunity, positioning Acumatica for further expansion.
Future fundraising prospects appear promising, given the successful $13.3 million funding round and the strategic alliances formed. These partnerships not only bolster Acumatica's market presence but also pave the way for additional investments to fuel their growth trajectory. However, the company must navigate challenges such as integrating their technology across diverse markets and staying ahead of competitors in the rapidly evolving ERP landscape.
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