Sage Intacct
| Company type | Subsidiary |
|---|---|
| Industry | Software |
| Founded | 1999 |
| Founder | Odysseas Tsatalos, David Thomas |
| Products | Accounting software |
| Website | www |
Sage Intacct, Inc, previously known as Intacct Corporation, is an American provider of Financial management and services.[1][2] The company was founded in 1999 and it was acquired by The Sage Group PLC for $850 million in 2017.[3]
History
Intacct was founded by Odysseas Tsatalos and David Thomas in 1999 as one of the first accounting applications for the cloud.[4] The company was headquartered in San Jose, grew organically and offered a suite of accounting software that could serve medium and large-sized businesses with consolidated ERP, and e-commerce features.[5][6][7]
On July 25, 2017, the company announced to its customers, employees, and shareholders the intention to become an independent and wholly-owned subsidiary of The Sage Group PLC.[8]
Features
Sage Intacct has a suite of subscription-based accounting products. Its web-based applications are built on top of its internally developed platform.[9] Sage Intacct’s application includes accounts payable, accounts receivable, cash management, collaborate, general ledger, order management, purchasing, and reporting and dashboards.[10][11]
Add-on programs
It allows integration of third-party softwares such as Salesforce, Certify, ADP, SAP Concur and others.[12][13]
Operations
Founded and headquartered in San Jose, the company initially grew organically, but more recently has grown primarily through acquisitions.[14][15] It now operates in India and Romania. Sage Intacct has more than 11,000 customers and nearly 500 employees across the world.
Funding
In 2000, Intacct got its first institutional investor, venture capital firm HWVP and completed a Series A round of $10 million.[16][17] From 2001 to 2014, the company raised $130 million in funding primarily led by the Battery Ventures, BVP, Sigma Partners and Emergence Capital with the last round of $30 million in 2014 with the company valuation of $211 million.[18][19][20]
References
- ^ "Sage Group buys Intacct accounting software for $850M – TechCrunch". techcrunch.com. Retrieved 2018-06-03.
- ^ "Intacct's market success continues". diginomica. 2016-05-13. Retrieved 2018-06-03.
- ^ "Sage buys cloud accounting software firm Intacct - Enterprise Times". Enterprise Times. 2017-07-26. Retrieved 2018-06-03.
- ^ Johnson, Debbie Schultz,Michael (2016-03-25). "The Case for Cloud-Based ERP". CFO. Retrieved 2018-06-03.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ "Sage Intacct announces partner award recipients". Accounting Today. Retrieved 2018-06-03.
- ^ "Robert Reid of Intacct: The Culture Always Comes First". The New York Times. 2014-12-20. ISSN 0362-4331. Retrieved 2018-06-03.
- ^ "Start-up serves accounting applications over the Internet.(Intacct)(Company Business and Marketing)". 2000-01-31.
{{cite journal}}: Cite journal requires|journal=(help) - ^ "Subscribe to read". Financial Times. Retrieved 2018-06-03.
{{cite web}}: Cite uses generic title (help) - ^ "Vena Solutions adds FP&A integration for Sage Intacct". Accounting Today. Retrieved 2018-06-03.
- ^ "Intacct Adds Mobile and Tablet Support". Accounting Today. Retrieved 2018-06-03.
- ^ "The Public Health Accreditation Board Reaches $2 Million Revenue on Sage Intacct". Retrieved 2018-06-03.
- ^ "Intacct launches subscription billing and SaaS dashboard". diginomica. 2015-05-04. Retrieved 2018-06-03.
- ^ "Intacct Moves Upstream". 2000-07-01.
{{cite journal}}: Cite journal requires|journal=(help) - ^ "Intacct lease fills part of San Jose's long-vacant Riverpark II". www.bizjournals.com. Retrieved 2018-06-03.
{{cite web}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Intacct CFO Named Exec of the Year in Cloud Computing". CPA Practice Advisor. Retrieved 2018-06-03.
- ^ "Intacct Receives Venture Funding.(Company Financial Information)(Brief Article)". 2000-05-01.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Kepes, Ben. "No IPO, debt funding instead. Intacct gets some fuel". Computerworld. Retrieved 2018-06-03.
- ^ Konrad, Alex. "Accounting Software Maker Intacct Takes On $45M To Pick Up The Pace". Forbes. Retrieved 2018-06-03.
- ^ "Intacct Raises $45M To Bring Bean Counters To The Cloud – TechCrunch". techcrunch.com. Retrieved 2018-06-03.
- ^ "Term Sheet -- Thursday, May 6". Fortune. Retrieved 2018-06-03.