Cloud accounting software provider Xero Inc. has raised $49 million from existing U.S. investors Matrix Capital Management and Valar Ventures primarily to further fund their global expansion and growth toward 1 million customers.
In February, Xero completed a $20 million round of financing through a placement to existing strategic investors, which was earmarked for similar purposes. The company claims to currently have over 100,000 paying customers and 200,000 users in more than 100 countries around the world.
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