Cloud ERP provider Acumatica announced it has raised $13.3 million in a new funding round led by Australian online accounting software provider and Acumatica strategic OEM partner MYOB.
This investment, added to previous rounds led by Runa Capital, Almaz Capital and another Acumatica OEM partner, Oslo-based Visma, brings total funding to more than $30 million.
“This investment validates the market acceptance of the Acumatica solution,” stated CEO Jon Roskill. “The investment will allow us to implement aggressive growth plans in three areas: Broadening our product line; accelerating the expansion and enablement of our partner ecosystem; and upsizing our brand in a big way.”
Bain Capital-owned MYOB announced plans to invest in Acumatica and take a board seat at Acumatica’s Partner Summit in August.
“We believe in the innovation of the Acumatica technology and are investing in our mutual success,” stated MYOB CEO Tim Reed. “Last year, we announced our multi-million-dollar deal to OEM Acumatica’s ERP solution platform. One year later, we are in final phase of piloting the Advanced product, and have customers live on MYOB Advanced, powered by Acumatica technology.”
“It’s an exciting time for businesses,” Roskill stated. “Customers can now unlock their potential with Acumatica’s cost-effective, modern alternative to the Netsuite blackmail.”
