Cloud ERP vendor Intacct last week announced that it has secured debt funding by way of a $ 40 million facility from Silicon Valley Bank. This comes at the same time as Intacct announced year-on-year new bookings increasing by some 34 percent.
Intacct has an interesting job in front of it — it is a mid-market vendor and therefore fills the space between tools designed for small and mid-sized businesses (QuickBooks and Xero, for example) and more enterprise-focused tools such as NetSuite, SAP, and Oracle. The mid-market space is a difficult one — customers have a plethora of different requirements and often the complexity, if not the budgets, are similar to those of larger enterprise organizations.
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