Acumatica offers a suite of fully integrated cloud business management applications, including Financials, Project Accounting, Commerce, Manufacturing, Field Service and CRM, built on cloud and mobile technology with a customer-centric licensing model. The company targets small and mid-size companies and is led by CEO Jon Roskill. It recently released a Construction Edition aimed at improving margins and project control across residential, commercial, mixed-use, land development, and government projects. Acumatica emphasizes Cloud/SaaS technologies and is extending its capabilities in AI and machine learning. The company positions its flexible platform to accelerate business operations across industries. No operating metrics (revenue/users) were disclosed in the article. Acumatica provides cloud business management and accounting software, offering integrated applications such as Financials, Distribution, CRM and Project Accounting on a flexible cloud platform. The company sells exclusively through a worldwide ecosystem of over 350 partners and announced its 1,000th customer, with clients ranging from small and mid-size businesses to public companies like Youngevity and Frost Bank across industries from manufacturing to professional services. Acumatica has OEM partnerships with MYOB and Visma; MYOB is piloting the Advanced product and has customers live on MYOB Advanced powered by Acumatica technology. The company launched a beta of version 5.0 at its annual Partner Summit. Acumatica announced a $13.3 million funding round led by MYOB, bringing total funding to well in excess of $30 million. Management says the new capital will be used to broaden the product line, accelerate expansion and enablement of the partner ecosystem, and upsize the brand. Acumatica provides cloud-based ERP applications for small and midsized businesses, including financial management, distribution, CRM, and project accounting suites. The company delivers its products through a global channel-partner network of VARs, ISVs, and OEMs across the US, Canada, UK, Africa, the Middle East, India, and Southeast Asia. Acumatica is headquartered in Kirkland, WA and maintains offices in Washington DC, Moscow, and Singapore, with affiliate offices in Indonesia and Mexico. Founded in 2007 by Yury Larichev, Serguei Beloussov and John Howell, the company raised $10M in a Series C round. It intends to use the funds to accelerate growth and work with its partner channel to increase adoption of its cloud ERP solution. Acumatica develops web-based Cloud ERP software that can be deployed on-premise, hosted at datacenters, or run as a turnkey SaaS solution. Its platform delivers integrated modules including advanced financials, inventory, sales orders, purchase orders, and customer management, and supports third-party developers building manufacturing, ecommerce, payroll, EDI, and point-of-sale solutions. The product emphasizes flexibility, allowing customers to control data location, timing of upgrades, and ongoing software expenses. Acumatica serves hundreds of customers across industries including wholesale distribution, financial services, hospitality, manufacturing, not-for-profit, and professional services. The company plans to use the investment to expand sales and marketing, continue development of its technology platform, and secure its position as a leader in Cloud ERP software. The announcement was issued from Bethesda, Md. Acumatica develops an integrated set of web-based accounting, ERP, and CRM software that can be deployed on-premise, hosted at a datacenter, or run on a cloud computing platform. The company distributes its products through a worldwide network of partners. CEO Ezequiel Steiner said Acumatica is well positioned to help mid-market enterprises safely transition to web and cloud computing technology. The company said the investment from Almaz will accelerate its ability to deliver advanced accounting and ERP solutions on-premise or as SaaS. Acumatica has offices in Washington D.C., Jakarta, Moscow and Singapore.

Total raised

$48M

Funding rounds

5

Latest round

Series C

Latest activity

Jun 2018