Intacct provides cloud ERP software covering accounting, cash management, purchasing, vendor management, financial consolidation, subscription billing, revenue recognition, project accounting, fund accounting, inventory management and financial reporting. Led by CEO Robert Reid, the company’s suite supports a broad range of financial and operational workflows. Its solutions are currently in use by more than 11,000 organizations, from startups to public companies. On May 5, 2016, Intacct secured an additional $40m of debt financing. The facility was provided by Silicon Valley Bank. The company is backed by Battery Ventures, Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Morgan Creek Capital Management, Sigma Partners and Split Rock Partners. Intacct provides cloud-based accounting and audit software delivered as a software-as-a-service for CFOs and financial teams. Founded in 1999, the company targets small and medium-sized businesses that historically relied on on-premises systems. Its core product shifts accounting and audit functions to the cloud, aiming to capture a larger share of enterprise application spend as cloud adoption grows. Company and investors say the SaaS model has allowed Intacct's business to flourish amid falling hardware and software costs. Intacct raised $45 million in new equity and debt funding in the reported round, including a $15 million debt facility from Silicon Valley Bank. Since launch the company has raised $135 million from investors including Battery Ventures, Morgan Creek Capital Partners and prior backers such as Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital Partners, Sigma Partners, Split Rock Partners and Silicon Valley Bank. Intacct sells cloud-based software for financial functions including accounting, contract and revenue management, inventory, purchasing, vendor management, consolidation and reporting. Its applications are used by more than 5,000 organizations, ranging from startups to public companies. The company highlights advantages over legacy accounting systems such as scalability and real-time reporting. Intacct reported 97% year-over-year growth in new customer bookings. It plans to use the new capital to extend its product range and expand distribution channels. The company secured additional liquidity via a credit facility to support continued growth. Intacct offers cloud financial management and accounting software including accounting, contract management, revenue management, project and fund accounting, inventory, purchasing, vendor management, financial consolidation and financial reporting. The company is led by president and CEO Robert Reid and is based in San Jose, California. Intacct serves more than 4,000 organizations worldwide. It raised an additional $12.3M in funding to further invest in its cloud applications, support hiring plans, and expand sales, marketing and partner initiatives. The product-focused capital infusion is intended to accelerate product development and go-to-market expansion.

Total raised

$111M

Funding rounds

6

Latest round

Debt Financing

Latest activity

May 2016