Intacct Solidifies Its Position as the Growth Leader in Cloud Financial Software with $45 Million in New Financing

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Information about Intacct Solidifies Its Position as the Growth Leader in Cloud Financial...
News & Politics

Published on February 26, 2014

Author: Intacct

Source: slideshare.net

Description

Intacct, a leader in cloud financial management and accounting software, today announced it has secured an additional $45 million of financing in a combination of venture funding and a debt package. The new funds will be used to further invest in company growth and expanded product capabilities.

The majority of the new financing was secured through a $30 million venture funding round led by Battery Ventures, a new Intacct investor. Chelsea Stoner, a general partner at Battery Ventures, has also joined the Intacct Board of Directors. The round featured all existing active investors, including Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, and Split Rock Partners, as well as new investor Morgan Creek Capital Management. The remainder of the funding came in the form of a $15 million debt package from Silicon Valley Bank.

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