Accounting software developer Intacct has raised $15 million in financing led by Bessemer Venture Partners.
Existing investors Emergence Capital, Sigma Partners and Sutter Hill Ventures also participated in the funding round. This is the San Jose-based company's second round since last year. Intacct raised $14 million in June 2007, giving the company a total of $29 million in the past nine months and more than $80 million since it was founded in 1999. Intacct specializes in on-demand financial management and accounting applications.
"The past year has put Intacct on an entirely different and much higher growth trajectory," said Intacct CEO Mike Braun in a statement.
Intacct plans to use the extra financing to accelerate its product development and client acquisition efforts, and expand into other vertical markets. Money from last year's round of financing helped lure executives from Google, Intuit, Ariba, Mirapoint and Postini to Intacct's ranks.
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