So how many years do these cloud erp providers get to live off of VC & debt before they have to show a profit or have the rug pulled out from under them?
INTACCT RAISES $45 MILLION
Was starting to wonder why Intacct had been so quiet over the last few months. But that got answered this week with the announcement the company raised $45 million in venture capital and debt funding. In a prepared statement, Intacct said it would invest in company growth and expanded product capabilities. The latter strikes me as particularly important because, like most cloud companies, Intacct could use more features. The book on Intacct has been what it has is really good; it just needs more. The new round featured $30 million in venture funding led by Battery Ventures. While new as an Intacct investor, BV is well known and in the financial and related software space its portfolio includes Avalara, High Jump Software (which owns the TrueCommerce EDI lines), Sweden-based Jeeves Information Systems and Consona (which merged with CDC Software to form Aptean). The $15 million debt package came from Silicon Valley Bank. Intacct CEO Robert Reid called his company the ""fastest growing mid-market cloud financial software vendor."" Since the company has a relatively small financial base, that is easily true, but perhaps not particularly important. Besides, it's other vendors who care about such claims, not customers.