Acquia, Focused on Drupal, Closes $50 Million Financing Round
Here at OStatic, we've repeatedly covered Acquia, the small company that focuses on the popular Drupal content management system (CMS). OStatic runs on Drupal, which is known for its modularity and flexibility, and countless sites around the web depend on it. Now, Acquia has closed a $50 million financing round, bringing total investment in the company to $118.6 million. Led by new investor New Enterprise Associates (NEA), the round includes new investor Split Rock Partners as well as existing investors North Bridge Venture Partners, Sigma Partners, Investor Growth Capital, and Tenaya Capital. Ravi Viswanathan, general partner at NEA, will also join Acquia’s Board of Directors.
“Digital isn’t just about marketing; it is the core of modern business, disrupting everything - commerce, campaigns, customer service, employee engagement, civic engagement and more. Acquia is powering this disruption for enterprise organizations, creating an enormous opportunity to accelerate our momentum,” said Acquia CEO Tom Erickson, in a statement. “With this new funding, we’re helping our customers maximize their business impact with our open cloud platform for integrated digital experiences.”
Acquia is actually North America’s fastest growing private company on the Deloitte Fast 500. The company recently announced a strong start to 2014, achieving its 20th consecutive quarter of revenue growth in Q1. Among the 4,000+ organizations who work with Acquia, there are Mercedes-Benz, Warner Music, NBC Sports Digital, Intel Corporation, Puma, LUSH, Timex, the Peace Corps, and Stanford University.
"Digital transformation is a boardroom conversation, and has driven the creation of new executive roles like the Chief Digital Officer and Chief Experience Officer,” said Ravi Viswanathan, general partner at NEA, in a statement. “Digital requires an entirely different approach that unifies marketing, IT, commerce, and customer service. Acquia sits at the center of the digital transformation happening in the Global 2000. We’re proud to join a team that is leading the digital revolution.”
Acquia's round of funding is also notable for its size. Venture capital is continuing to flow toward startups that concentrate on open source software, and Acquia has just gained a lot of newfound flexibility.