One reason for the influx in funding is MYOB's decision to build its advanced product on the Acumatica platform. After announcing a multi-million dollar deal last year, the company is in the " final phase of piloting the Advanced product, and have customers live on MYOB Advanced, powered by Acumatica technology," says MYOB CEO Tim Reed. Previous funding rounds were led by Runa Capital and Almaz Capital, and Oslo-based Visma, another Acumatica OEM partner.
ACUMATICA RAISES $13M IN FUNDING Featured
Acumatica this week revealed the amount of funding it has received from MYOB, the accounting software company based in Australia. The Kirkland, Wash.-based cloud and on-premise software company says it has received $13.3 million in led by MYOB, which is owned by Bain Capital. Acumatica says it has now raised $30 million in outside investments. The MYOB connection was announced in August at Acumatica's Partner Summit.
