Latest news with #midmarket
Geek Wire
4 days ago
- Business
- Geek Wire
Acumatica CEO on the secret sauce behind company's growth — and its next chapter with Vista
Acumatica CEO John Case. (Acumatica Photo) Make the software easy to use. Find key partners to drive sales. Lean on a community of users to help improve your product. Those are some of the ingredients fueling growth at Acumatica, the Bellevue, Wash.-based enterprise software giant that will be acquired by Vista Equity Partners in a deal announced Thursday. Founded in 2008, the company has grown steadily since it was acquired by EQT Partners in 2019. EQT generated a 5X multiple on its invested capital, according to Bloomberg, which reported that the new deal with Vista values Acumatica at about $2 billion. Acumatica specializes in enterprise resource planning, or ERP. Its software is used for accounting, inventory tracking, supply chain operations, and more. The company targets mid-market customers — businesses with 25-to-1,000 employees — across an array of industries. 'Tens of thousands of companies fit that description and they're hunting for new digital technology to run their business,' said Acumatica CEO John Case. The ongoing AI boom is a tailwind for Acumatica, which has introduced a range of automation capabilities to help speed up data extraction, demand forecasting, business workflows, and more. 'The mid-market customer, they don't have big AI teams,' Case said. 'They're looking to buy systems and run on systems that are going to benefit from that technology in a very pragmatic way.' Acumatica has carved market share in a competitive sector that includes Microsoft, Oracle, and other ERP vendors — but it differentiates by focusing specifically on mid-market. Case, who joined as CEO in 2022, pointed to three aspects of the company's business that has helped drive growth. Platform architecture: Since its inception, the company built software with easy integration capabilities and configuration, Case said. 'We do all this extra work to make the platform incredibly functional for the average customer,' he said. Since its inception, the company built software with easy integration capabilities and configuration, Case said. 'We do all this extra work to make the platform incredibly functional for the average customer,' he said. Go-to-market model: Acumatica works with hundreds of partners in a reseller network that help with implementation and in-person service. 'That channel is incredibly hard to build and replicate,' Case said. Acumatica works with hundreds of partners in a reseller network that help with implementation and in-person service. 'That channel is incredibly hard to build and replicate,' Case said. Community engagement: The company has more than 30,000 active members in its community that vote on potential new features. 'They want us to build the product that they want to use,' Case said. 'That is a really helpful virtuous cycle that helps shape our future — and insulate us from some of the challenges other businesses might have.' Case said Acumatica talked to a number of private equity firms over the past several months. 'Vista was most convicted about our business model and how we go to market,' he said, adding: 'This is a growth story. They're wanting to fuel and accelerate that growth.' The company plans to boost headcount and reach about 750 employees globally this quarter. About 10% of its workforce is based in the Pacific Northwest. Acumatica moved its headquarters to the Seattle region from the Washington, D.C., area in 2012. It opened a new HQ in Bellevue last year. Vista, an Austin, Texas-based firm with more than $100 billion in assets, recently acquired Bellevue-based enterprise software company Smartsheet in an $8.4 billion deal with Blackstone. Vista also acquired other Seattle-area tech companies including IT cost analysis software firm Apptio in 2019 (Apptio sold to IBM in 2023) and tax software giant Avalara in 2022.
National Post
13-05-2025
- Business
- National Post
Northleaf Hits Hard Cap with Final Close of its US$2.6 Billion Infrastructure Fund
Article content Article content TORONTO — Northleaf Capital Partners ('Northleaf') today announced the final closing of its latest infrastructure fund, Northleaf Infrastructure Capital Partners IV ('NICP IV' or 'the Fund'), surpassing its target of US$2.25 billion and hitting the Fund's hard cap of US$2.6 billion. The Fund is Northleaf's largest infrastructure vehicle to date, underscoring the growth and consistent performance of the firm's mid-market platform. Led by Jamie Storrow and Jared Waldron, Northleaf's infrastructure program is supported by more than 70 institutional investors across 14 countries and has completed 37 investments to date. Article content Northleaf's infrastructure strategy focuses on control investments in contracted mid-market assets in targeted sub-sectors, primarily in North America. The program employs an active approach to value creation and drives returns through business plan initiatives designed to grow and/or de-risk each investment – hallmarks of Northleaf's disciplined, cycle-tested approach. Article content 'We are proud to have reached our hard cap for NICP IV. This milestone highlights the depth of support from both existing and new investors, and underscores the strong, consistent performance of our infrastructure program,' said Stuart Waugh, Managing Partner at Northleaf. 'This achievement builds on the track record of our predecessor funds and reinforces our conviction in the mid-market as a compelling segment of the private markets landscape.' Article content 'Having begun investing in 2023, NICP IV has already completed five investments, including Shared Tower and Provident Energy Management, which are consistent with our approach of acquiring high-quality investments with long-term contracted revenues,' said Jessica Kennedy, Managing Director at Northleaf. 'Our early portfolio activity reflects our differentiated sourcing model—leveraging long-standing relationships to access proprietary, off-market opportunities—and our proven ability to drive value creation from the very beginning of the asset lifecycle.' Article content The successful final closing of NICP IV continues Northleaf's strong growth across its global private markets platform. Notable recent highlights include the successful exit of Mula Solar Farm, the purchase of an equity stake in CCM Hockey, and the final close of Northleaf's third private credit fund. Article content Northleaf Capital Partners is a global private markets investment firm with more than US$28 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf's 275-person team is located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York, Seoul, and Tokyo. Northleaf sources, evaluates and manages private markets investments, with a focus on middle-market companies and assets. Article content All information is as at the date of this publication. This document is for informational purposes only and does not constitute a general solicitation, offer or invitation in any Northleaf-managed funds in the United States or in any other jurisdiction and has not been prepared in connection with any such offer. Article content Article content Article content Article content Article content Contacts Article content Media Contacts: Sneha Satish Stanton t: +1.646.502.3556 e: ssatish@ Article content Article content Article content
Entrepreneur
13-05-2025
- Business
- Entrepreneur
Finance AI Startup Hyperbots Raises USD 6.5 Mn for Expansion
Hyperbots' Series A round was co-led by Arkam and Athera, with JSW, Kalaari, Sunicon, and Darashaw also participating. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Hyperbots, the agentic AI platform transforming finance and accounting operations, has raised USD 6.5 million in a Series A round co-led by Arkam Ventures and Athera Venture Partners. The round also saw participation from new investor JSW Ventures and existing backers Kalaari Ventures, Sunicon Ventures, and Darashaw & Company. The fresh capital will be deployed to scale Hyperbots' go-to-market efforts in the US and accelerate the development of new AI co-pilots, including HyperLM—the industry's first large language model trained exclusively on finance and accounting data. With a US headquarters and an engineering hub in India, Hyperbots is laser-focused on mid-market enterprises looking to modernise their finance operations. "Securing this investment is far more than fresh capital—it is our springboard for a new era of finance-and-accounting transformation in the US mid-market," said Rajeev Pathak, Co-founder and CEO of Hyperbots. "With our proprietary, domain-trained AI models and agentic workflow engine, we can finally automate the heavy, error-prone work that's been holding finance teams back." Founded in 2023 by Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots offers AI-native co-pilots that automate core finance workflows like procure-to-pay, order-to-cash, expense management, analytics, and reporting. These co-pilots integrate seamlessly with major ERP, CRM, and finance systems to deliver fast, accurate, and low-intervention processing. Built on a proprietary Agentic AI platform, Hyperbots' co-pilots read structured and unstructured data, process invoices, match and reconcile them, validate taxes, manage accruals, and recommend GL codes—all with minimal human oversight. Designed from the ground up with insights from over 25 design partners, the deployment-ready co-pilots have already demonstrated 99.8% document accuracy and reduced manual effort by up to 80%. Since its seed funding in August 2024, Hyperbots has gained traction with customers across the US, including a NASDAQ-listed healthcare provider, a media conglomerate, and an EV infrastructure firm. The company is on track to serve 100+ clients across sectors such as healthcare, manufacturing, real estate, and oil & gas. Bala Srinivasa of Arkam said, "We were impressed by the accuracy and product breadth of Hyperbots' AI suite for such a young company." Athera's Rutvik Doshi added, "The platform reimagines finance automation for the mid-market like no other." With cutting-edge AI, a clear vision, and growing market momentum, Hyperbots is poised to become a category leader in finance automation.
