You have to wonder if new opportunities include buying something. The new financing adds to the backing from Intacct's existing investors, which include Battery Ventures, Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Morgan Creek Capital Management, Sigma Partners, and Split Rock Partners. Intacct said it continues to see strong adoption from fast-growing companies in markets that include software/SAAS, services, healthcare, hospitality, finance and insurance, and nonprofit organizations. That statement is supported by the numbers that are coming through in the submissions for Bob Scott's Top 100 VARs. The San Jose, Calif.-based company said it has a 34-percent increase in bookings over the prior year for its third quarter.
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INTACCT GETS $40M DEBT FINANCING Featured
Cloud software vendor Intacct has secured $40 million in financing through a new debt facility from Silicon Valley Bank. "When you are looking at long-term growth, you always have to watch the market and sometimes you take in money before you actually need it to ensure you have the flexibility to take advantage of new opportunities when they arise," CEO Robert Reid said in a prepared statement.
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