Intacct raises $15 million in funding

The on-demand financial management and accounting applications company receives funding from Bessemer Venture Partners and others.

Intacct announced Monday it raised a $15 million round of venture funding, led by Bessemer Venture Partners.

The on-demand financial management and accounting applications company also received a portion of the round from its existing investors Emergence Capital, Sigma Partners, and Sutter Hill Ventures. That brings total funding for Intacct, which was founded in 2000, to approximately $80 million.

Intacct, which also raised a $14 million round last summer, plans to use the funding to accelerate its growth via product line additions and enhancements to its channel and sales force, said Mike Braun, Intacct's chief executive. He added that although the company is profitable on an operational basis, the recent rounds will help it ramp up its growth at a quicker pace.

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    Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.

     

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