Business, Investments

Acquia raises $50M in Series F

Burlington based, digital business solution provider, Acquia has raised USD 50 million in series F round, the company announced in a blog post. The investment was led by New Enterprise Associates with participation from new investor Split Rock Partners. The existing investors Sigma Partners, Investor Growth Capital, Tenaya Capital and North Bridge Venture Partners also participated in the round.

The new funds will be used to add more features to its services, increase sales and marketing, while adding more channel partners and push new products in marketing commerce applications. The company plans to go public but after 2015.

Acquia was launched in 2007 by CTO Dries Buytaert and Co-Founder Jay Batson. It is known for providing technical support services for the open source Drupal social publishing system. The company offers cloud solutions, global expertise and developer tools and helps the world’s leading brands like Mercedes Benz, Warner Music Group, Twitter, and Stanford University.

Till date, including this round , the company has secured a total funding amount of USD 118.50 million. It has raised five rounds of investments viz. Series A (USD 7M, 2007), Series B (USD 8M, 2009), Series C (USD 8.50M, 2010), Series D (USD 15M, 2011), Series E (USD 30M, 2012).

Earlier, it has acquired three companies: Mollom, Growing Venture Solutions and Cyrve for an undisclosed amount. In 2012, the company has launched new cloud media management service. It has also announced beta launch of commercial Drupal distribution in 2008.

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