Phocas says funds will also be used to develop its core products. The software company, which employs about 200 people, estimates it will have revenue of about $39 million revenue annually for the 12 months ending July 1. Phocas says it has 1,900 mid-market customers. Product line expansion includes moving into new verticals and growing its artificial intelligence capabilities. Phocas’ cloud-based application plugs into a variety of ERP applications, including Acumatica, Dynamics AX/GP/NAV, Epicor, IFS, a wide range of Infor financial applications, JD Edwards, NetSuite, PeopleSoft, Syspro Ellerston Capital led the investment round with a $27-milloin equity investment.
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PHOCAS SOFTWARE RAISES $34 MILLION Featured
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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