Acumatica, a Bellevue-based builder of enterprise resource planning software, says it has wrapped up a $25 million outside investment round led by Accel-KKR.
Acumatica, a Bellevue-based builder of business management software, has hauled in $25 million in venture capital funding that it plans to use to build out its product line and sales force.
The company makes enterprise resource planning software, the umbrella term for business applications that track and manage things like order books, inventory, accounting and production planning. Acumatica targets small and midsize businesses that might get less attention from giants like SAP, Oracle and Microsoft.
In recent years, the company has released editions of its software tailored for specific industries or job roles, including construction, manufacturing and field service. Jon Roskill, Acumatica’s chief executive, said he hopes to use the new cash to build more industry-specific tools, and grow the company’s sales and support capacity.
“It’s just a huge opportunity in front of us,” he said.
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The investment round was led by Accel-KKR, a private equity firm, and also included contributions from existing investors. Roskill, a former Microsoft sales executive, said the Silicon Valley firm’s expertise could prove useful in building out Acumatica’s strategy, planning and recruitment.
Like many software companies, Acumatica is betting on a generational shift to cloud computing, in which companies increasingly run their software from servers owned by other companies instead of on hardware sitting in their own data centers. Acumatica’s tools run on Amazon Web Services, and can be accessed via the internet.
Founded in 2008, Acumatica is among the companies started by Russia-born, Singaporean entrepreneur Serguei Beloussov. The company’s roughly 250 employees are spread out across a similarly global arc. About 40 executive, sales, marketing and administration staff work from a titular headquarters in Bellevue; software development is handled out of Moscow and Montreal; and other offices are located in Singapore, Mexico City and Columbus, Ohio.