News and Analysis

News and Analysis (9895)

C3.AI REVENUE RISES 19 PERCENT

A 35.8-percent increase in operating expenses helped push C3.ai to a 72-percent increase in its loss for the third quarter ended January 31. Backed by Microsoft and Koch Industries, the company is  CEO Thomas Siebel’s venture that is designed to counter Salesforce.com’s dominance in the CRM market.

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 VERTEX HIRES CTO

Tax software vendor Vertax has hired Sal Visca as chief technology officer. Visca replaced Jennifer Kurtz, who worked at Vertex for 21 years five months and served as CTO from January 2016 through October 2020.

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PROCORE REVS DOUBLED OVER TWO YEARS

Revenue for Procore Technologies have more than doubled over the last two years. The construction software company disclosed its financial statements in an amendment this week its S-1 form, filed a year ago in preparation of an initial public offering.

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SOVOS BUYS BRAZIL TAX UNIT

Sovos has acquired Fit Sistemas, a company that provides tax reporting capabilities in Brazil. Terms were not disclosed.

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INFOR RECURITING UK/IRELAND CHANNEL 

Infor has begun what the software calls “an aggressive channel partner recruitment drive "in the UK and Ireland. It is the first partner announcement in some time.

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PHOCAS SOFTWARE RAISES $34 MILLION

Phocas Software, a data analytics software company, has raised $34 million. Based in Sydney, Australia, the company said the money will be used to accelerate growth in America and the United Kingdom, along with expanding into new in countries.

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ACUMATICA DEBUTS R1 2021

Acumatica has introduced its Release 1 for 2021. Ajoy Krishnamoorthy, VP of  platform strategy, said during the recent kickoff events that enhancements. The executive highlighted phase 1 of multiple base currency support as one important feature.

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CRESTWOOD MAKES C-LEVEL CHANGES

Reseller Crestwood Associates has changed the roles of two of its leaders. John Gabrys, formerly COO has become this month chief revenue officer of the Schaumburg, Ill.-based company.

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IFS CLOUD LAUNCH COMING 

IFS is introducing the IFS Cloud next month. The Sweden-based company, a sister to Acumatica, has scheduled the virtual event for March 10 through 11.

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SWK BUYING INDY-BASED RESELLER

SWK Technologies has agreed to acquire CT-Solution, a Sage software reseller based in Indianapolis, Ind. The agreement was announced by SWK’s parent SilverSun Technologies.

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