ASP - Wednesday, May 24, 2006
Another SalesForce.com Plug-In Gets Thumbs Up
On-demand financial applications startup Intacct has raised $7M in Series B. The company is hedging its bets with several types of offerings, however, its most interesting product is an ERP application that rests on Salesforce.com. A nice spiff of working with Salesforce.com is the marketing juice that Salesforce is giving to its partners.
The latest lead investor Intacct is Emergence Partners, which has invested in other on-demand software companies such as Salesforce.com, Ketera, SuccessFactors, and Genius.
Intacct has a huge market scope but it competes with formidables like NetSuite. RedHerring says the start-up is estimated to have $25M to $30M in revenues but has yet to attain profitability. That's because the company had raised $40M, most of which it squandered and had to recap on.
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