Intacct, a leader in cloud financial management and accounting software, today announced it has secured an additional $45 million of financing in a combination of venture funding and a debt package. The new funds will be used to further invest in company growth and expanded product capabilities. The majority of the new financing was secured through a $30 million venture funding round led by Battery Ventures, a new Intacct investor. Chelsea Stoner, a general partner at Battery Ventures, has also joined the Intacct Board of Directors. The round featured all existing active investors, including Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital, Sigma Partners, and Split Rock Partners, as well as new investor Morgan Creek Capital Management. The remainder of the funding came in the form of a $15 million debt package from Silicon Valley Bank.

1. FOR IMMEDIATE RELEASE
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Peter Olson
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Intacct Solidifies Its Position as the Growth Leader in Cloud
Financial Software with $45 Million in New Financing
Funding Led by New Investor Battery Ventures with
Participation from All Existing Active Investors
SAN JOSE, Calif. – Feb. 18, 2014 – Intacct, a leader in cloud financial management and
accounting software, today announced it has secured an additional $45 million of financing in a
combination of venture funding and a debt package. The new funds will be used to further invest
in company growth and expanded product capabilities.
The majority of the new financing was secured through a $30 million venture funding round led
by Battery Ventures, a new Intacct investor. Chelsea Stoner, a general partner at Battery
Ventures, has also joined the Intacct Board of Directors. The round featured all existing active
investors, including Bessemer Venture Partners, Costanoa Venture Capital, Emergence Capital,
Sigma Partners, and Split Rock Partners, as well as new investor Morgan Creek Capital
Management. The remainder of the funding came in the form of a $15 million debt package from
Silicon Valley Bank.
“As the fastest growing mid-market cloud financial software vendor, Intacct has already
established itself as a major player in the largest business application software segment,” said
Robert Reid, CEO of Intacct. “Our continued success in the industry, along with increased
market share, has attracted additional capital for the company. This new round of funding will
enable us to further accelerate our growth, drive new product enhancements, and reach into
new markets.”
“We already have the backing of several top venture firms and the addition of Battery Ventures
and Morgan Creek Capital Management in this round is further proof of our market position and
strong execution,” added Reid. “I’m pleased to welcome Chelsea Stoner to our Board of
Directors, and look forward to leveraging her experience in helping companies deliver
accelerated results while staying committed to customer success.”
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2. Intacct Solidifies Its Position as the Growth Leader in Cloud Financial Software
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Stoner has been at Battery Ventures since 2006 and specializes in investments in the softwareas-a-service (SaaS) and healthcare-IT sectors. “Battery has a long history of backing innovative
SaaS companies, and we were drawn to Intacct because of its brisk growth and strong product
focused on the mid-market,” said Stoner. “We are seeing CFOs adopt cloud solutions at an
increasing pace, and we believe Intacct and its top-notch management team are well positioned
to accelerate growth even further.”
“As Intacct continues to grow, this additional financial support will give the team added flexibility
to pursue their ambitious goals,” said Joan Parsons, executive vice president of Corporate
Banking for Silicon Valley Bank. “Our mission is to increase the probability of our clients’
success and when we see our clients, like Intacct, reaching new stages of business growth, it is
particularly rewarding.”
Intacct Delivers Record Fiscal Second Quarter
Showcasing its track record of strong growth, Intacct today also announced record results for its
second fiscal quarter, ended December 31, 2013. For the quarter, Intacct increased overall
bookings by nearly 40% year-over-year. The quarter was highlighted by a nearly 60% growth in
new customer acquisitions through Intacct channel partners.
Intacct and its channel partners continue to see the largest growth coming from companies
looking to switch off of outdated on-premises financial systems from Microsoft and Sage to
Intacct’s modern, cloud financial software. These companies have struggled with software
designed well over 25 years ago (pre-Internet) that requires multiple add-ons, extra hardware,
costly expert customization, and ongoing IT support just to keep up with their constantly
changing business needs.
With Intacct, companies gain a flexible, cloud-based system designed to streamline processes,
increase business visibility, and enable them to manage their business the way they want now
and in the future. Intacct’s best-of-breed approach also allows customers to choose the best
solution for each part of their organization at each stage in their growth, instead of being locked
into a monolithic suite from a single vendor. Adopting this approach not only gives a CFO
access to deeper functional capabilities, it enables them to rollout the functionality more quickly,
at a lower cost, and with less risk.
Additional Resources:
 Visit www.intacct.com
 Follow Intacct on social media: Facebook, Google+, LinkedIn, Twitter, and YouTube
 Follow the Intacct blog
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3. Intacct Solidifies Its Position as the Growth Leader in Cloud Financial Software
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About Intacct
Intacct is the cloud financial management company. Bringing cloud computing to finance and
accounting, Intacct’s award-winning applications are the preferred financial applications for
AICPA business solutions. Intacct applications, in use by more than 7,300 organizations from
startups to public companies, are designed to improve company performance and make finance
more productive. Hundreds of leading CPA firms and Value Added Resellers offer Intacct to
their clients. The Intacct system includes accounting, contract management, revenue
recognition, project accounting, fund accounting, inventory management, purchasing, vendor
management, financial consolidation and financial reporting applications, all delivered over the
Internet via cloud computing.
Intacct is headquartered in San Jose, California. For more information, please visit
www.intacct.com or call 877-437-7765. Connect with Intacct on LinkedIn, Facebook, Twitter,
Google+, and YouTube.
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Intacct and the Intacct logo are trademarks of Intacct Corporation. All other company and product names mentioned
herein may be trademarks of their respective owners.