Russian SaaS ERP company Acumatica has just announced raising $10 million to reach its $1 billion revenue target within the next decade.
The investors are the existing backers of the company Runa Capital and Almaz Capital. The co-founder and Board Chairman of Acumatica Serguei Beloussov is also a founder of Runa Capital.
According to the company CEO Yury Larichev the Acumatica, founded in 2007, expects to close 2013 with 350 percent in revenue growth. Its main client segment are small and medium size businesses that it reaches through 250 distribution partners and it plans to expand this channel.
Representatives from both venture funds Dmitry Chikachev and Alexander Galitsky confirmed their enthusiasm over the growth of the company, which according to Chikachev makes Acumatica the fastest-growing company in the market of business software.
goaleurope.com