Accounting Software Firm Xero Raises $111M from Matrix and Accel

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Accounting software firm, Xero has raised $110.8 million from Accel Partners and Matrix Capital Management to drive its growth in United States and United Kingdom. Accel Partners has agreed to invest $100 million at a $15.052 per share value, which is expected to be closed in mid-March 2015.

Xero is an online accounting software for small businesses and it has over 400,000 paying customers in more than 180 countries around the world and over 1,100 employees.

Apart from this, Xero’s most recent round was $150 million in October 2013, led by Matrix Partners and Valar ventures. Including this round, the company has raised a total capital of $355 million, till date.