Follow The Money: 21 Recent Tech VC Investments In February


Intacct

Headquarters: San Jose, Calif.

CEO: Robert Reid
New Funding: $45 million
Round: Undisclosed
Backers: Battery Ventures, Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, Split Rock Partners, Morgan Creek Capital Management, Silicon Valley Bank

Intacct, a cloud financial management and accounting software company, has raised an additional $45 million in funding to put toward company growth and product development. The funding was a mix of venture capital and a debt package, with $30 million coming from venture capital partners and the remainder in a debt package from the Silicon Valley Bank. Intacct said its channel partners in particular have seen a 60 percent growth in new customer acquisitions and see the largest amount of growth as they switch clients from outdated systems to Intacct's cloud-based financial software.