The funds going into all areas of the business including product development, sales, marketing and customer support. FinancialForce has been busy in the last year. It launched FinancialForce HCM through its acquisition of Vana Workforce and created FinancialForce SCM with its purchase of Less Software. With the new round of funding, Unit4 continues to be the majority owner of FinancialForce. The company said its annual run rate rose by 80 percent during 2013.
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FINANCIALFORCE GETS $50 MILLION Featured
FinancialForce.com, the company jointly owned by Unit4 and Salesforce.com, has received $50 million in private equity money. The investment comes from funds managed by Advent International, which just acquired Unit4 via a tender offer. FinancialForce is certainly optimistic. Its CEO, Jeremy Roche, issued a statement that said, "The company is on track to transform the ERP market in the same way that Salesforce.com has for CRM."
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