Acquia today announced the completion of a $30 million financing round led by new investor Investor Growth Capital. Goldman Sachs and Accolade Partners also participated, as did all of Acquia’s current investors: North Bridge Venture Partners, Sigma Partners and Tenaya Capital.
Acquia, which provides products, services and technical support for enterprise uses of the Drupal open source social publishing system, said the investment will be used to further its international expansion across Europe and the Asia Pacific region, and to support the growth of sales and marketing efforts.
This round brings investment in Acquia to a total of $68.5 million. In a related move, Jose Suarez from Investor Growth Capital has joined Acquia’s board.
Acquia reports its revenue has “nearly doubled” year-over-year through September, and that its compound annual growth rate (CAGR) is 250 percent over the past three years.
Here are the relevant executive statements:
Tom Erickson, CEO of Acquia: “Our customers have made it clear that they are unhappy with the status quo on the web and are demanding innovative platforms that give them new freedom to integrate with their existing marketing toolset and increase the productivity of their digital teams. We are delighted to have the participation of an elite group of investors as Acquia disrupts the market for content, community and commerce solutions, enabling multinational brands to achieve a new-found agility and set the pace with the fast moving social, and increasingly mobile, web.”
Jose Suarez, managing director at Investor Growth Capital: “Investor Growth Capital was drawn to Acquia’s vision to help digital marketing organizations in the Global 2000 harness the innovation and agility of open source Drupal. Acquia delivers a compelling combination of enterprise class products, Drupal technical expertise and leadership. We believe the web is changing, and that Acquia is uniquely positioned to help global brands create and manage immersive, multi-channel digital experiences.” Dries Buytaert, chief technical officer and co-founder, Acquia: “From the beginning, my intention with the Drupal project was to build a dominant open source technology that can help organizations quickly create extraordinary web experiences. Drupal adoption is higher and the community is stronger than ever before, as more organizations around the globe discover how the power of community can help them build amazing things on the web.”
Acquia – https://www.acquia.com
Acquia – press release