Acumatica

Acumatica is a developer of cloud-based finance and accounting solutions integrated with commodity accounting, purchase order, consumer resource management, and many others.

A large number of third-party developers use its platform to create fully integrated modules for serial production, e-commerce, staffing, electronic data exchange, points of sale and other solutions for vertical markets.

Aktivs

The R&D center of Acumatica is located in Russia.

History

2019: Withdrawal from Runa Capital and Almaz Capital funds service

On June 19, 2019, it became known that the funds Runa Capital Almaz Capital had withdrawn from the Acumatica development service cloudy ERP.^[1]

2013: Raising $10 million in the third round of funding

On November 18, 2013, Acumatica announced the raising of $10 million in the third round of funding conducted by venture capital funds Runa Capital and Almaz Capital. In the previous round of funding in 2011, Acumatica received investments from Visma, a portfolio company of the Kohlberg Kravis Roberts & Co fund, and in 2009 from Almaz Capital fund.

2012: Acumatica platform forms the basis of the cloud ERP of the leading developer in Northern Europe

On June 5, 2012, the Norwegian company Visma introduced the Visma.net cloud ERP system developed on the basis of the Acumatica platform.

Visma.net is focused on medium and small businesses, but is also able to work in global multinational companies. According to Bjorn Ingier, director of Visma Software, in his micro-blog, Visma.net can be implemented in companies with both five and five thousand employees.

"We have an OEM agreement with Visma under which they have the rights to use our development platform and product. Visma engineers used our technologies and financial modules of our product to create a cloud ERP solution adapted for the Northern market, " Europe said Mikhail Shchelkonogov, technical director of Acumatica, to TAdviser.

In addition to adaptation, work was done to integrate the product with other Visma cloud solutions and services to create an integrated client offering.

"Basically, our products are represented in the markets of North America and Asia, so going to the European market was not entirely a true strategic step, and Visma is one of the largest suppliers of ERP solutions and services in the Nordic market," concluded Shchelkonogov.

2011

According to 2011 information, Acumatica's owners included:

• Belousov Sergey Mikhailovich - 60%
• Almaz Capital Partners - 20%
• Visma

Attracting investment from Visma

In September 2011, it became known that^[2]Acumatica attracted investments from the largest commercial software provider in Scandinavia - Visma. The amount of the transaction was not disclosed, but we are talking about several million dollars, they say in Acumatica.

Visma itself is a portfolio company of the international private equity fund Kohlberg Kravis Roberts & Co. The funds will be used to develop Acumatica cloud ERP and CRM systems and enter new markets, in particular, Scandinavia and the Netherlands.

As Ezekil Steiner, CEO of Acumatica, told CNews, the valuation of the additional issue, which was sold to a new investor, was higher than 1.5 years ago, when the previous round of investments took place.

"This investment round is very important for the development of Acumatica, as Visma has sufficient resources to help Acumatica become a global leader in cloud ERP systems and significantly increase the number of large business partners," he says.

Visma had more than 15 thousand clients from medium-sized businesses and more than 300 thousand small businesses in Northern Europe - all of them will be able to migrate to cloud ERP, according to Acumatica.

Clients

Prior to the announcement of its partnership with Visma in September 2011, Acumatica's business was concentrated in North America and Southwest Asia, with the main customers being mid-sized wholesale distribution businesses and a number of retail, manufacturing and technology development customers. Among them, Ezikel Steiner named KFC, Parallels, Alawar, Yuasa Batteries, Social Security Administration, P'kolino.

Notes